Highlights
Producer prices were unchanged on the month at the start of the current quarter, a performance that also left the annual rate of decline steady at 7.6 percent. The steepest 12-month fall was recorded in July at 7.8 percent.

Energy prices were up 0.3 percent from September leaving the non-energy PPI to edge 0.1 percent lower on the month and stand 3.3 percent weaker on the year, in line with its September pace.

Other upside pressure on the monthly change in the headline index came from basic goods (0.2 percent) and durable consumer goods (0.1 percent). By contrast, there were falls in the prices of capital goods (0.1 percent) and consumer non-durables (0.4 percent). Total consumer goods were off 0.3 percent.

The recent pick-up in economic activity has accompanied a slight firming in manufacturers' pricing expectations. However, in general conditions remain far too competitive to accommodate any significant price hikes and, moreover, capacity utilisation rates are still historically very low.

Today's data do nothing to alter a benign outlook for pipeline cost pressures faced by German industry. By all means base effects will see the annual PPI rate gravitate towards positive territory over coming months but, as the latest decline in the core index illustrates, the underlying picture is as soft as ever.

2009 Release Schedule

Released On: 1/21 3/11 3/20 4/21 5/20 6/19 7/20 8/19 9/18 10/20 11/20 12/18 Released For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov