Producer prices in Germany dropped by 1.1% year-on-year in October, the federal statistical office Destatis revealed on Wednesday.
The annual drop was at 1.4% in September, Destatis recalled, while prices posted 16th consecutive declines in October.
In October, lower energy prices continued to be the main reason for the year-on-year decline in producer prices, while higher prices had to be paid for capital, consumer and intermediate goods, it noted.
Energy prices in October were 5.6% lower than the same month last year.
Meanwhile, producer prices rose by 0.2% month-on-month in October.
