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Producer prices in March 2024: -2.9% on March 2023
The producer prices of industrial products were 2.9% lower in March 2024 than in March 2023. In February, the year-on-year change rate was -4.1%. The Federal Statistical Office (Destatis) also reports that producer prices in March 2024 were up 0.2% on February 2024.In March 2024, lower energy prices continued to be the main reason for the year-on-year decline in producer prices. Intermediate goods were also less expensive than in March 2023, whereas higher prices had to be paid for consumer and capital goods. Sharp declines in the prices of natural gas (distribution) and electricity Energy prices in March 2024 were ... (full story)