Tuesday, February 20, 2007

Forex News: 20.02.2007 Producer prices in Germany on two-year minimum in January

Producer prices did not change in January, which was up to expectations, the Federal Statistical Office reported today. In December monthly change of producer prices was also 0.0%.

The annual change of producer prices was +3.2%, minimum since December 2004 (+2.9%). The analysts expected that annual growth of producer prices would be +3.3%.

In December annual change of producer prices was +4.4%, in November +4.7%.

The producer-price inflation slowed down in Germany to its two-year minimum after energy costs declined. Crude oil prices were 14% lower in January than in the corresponding month of the preceding year. Prices for oil-related products fell by 5.1% in a year.

Producer prices excluding energy costs rose in Germany by 2.9% in a year.


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