German producer price index rises in February

German producer prices index for industrial products rose in the month of February on a year-on-year basis. The official statistical office, Destatis, showed that the index of producer prices was up 1.8 percent year-on-year. The annual rate of change in January all over had been 2.1 percent, as reported by Destatis.

On a sequential basis, the overall index dropped a bit 0.1 percent in February, as compared with January’s figure of a rise of 0.5 percent and December’s print of a rise of 0.2 percent.

The price indices of all main industrial groups in the month of February rose on a year-on-year basis. Prices of intermediate goods were up 2.8 percent, while energy prices rose 1.8 percent, though the development of prices of the different energy carriers diverged.

Electricity prices rose 4.3 percent, whereas prices of natural gas fell 0.1 percent and prices of petroleum products fell 0.2 percent. Prices of non-durable consumer goods and of durable consumer goods was up 1.4 percent each, whereas prices of capital goods rose 1.1 percent.

The overall index disregarding energy was 1.9 percent up year-on-year,  and 0.1 percent compared with January 2018.

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