German producer prices rise less than expected in November By Reuters

© Reuters. FILE PHOTO: Shoppers walk down the main shopping street Hohe Strasse in Cologne, Germany, December 15, 2020. REUTERS/Thilo Schmuelgen/File Photo

BERLIN (Reuters) -Germany’s producer price index eased in November for the second month in a row, adding to signs that high inflation could be waning in Europe’s largest economy as the cost of energy products fell, according to data released on Tuesday.

Producer prices of industrial products rose 28.2% on the same month last year compared with a 34.5% year-on-year rise in October, the Federal Statistical Office reported. Analysts had forecast a November reading of 30.6%.

Compared with October 2022, prices fell 3.9%, which was below consensus for a drop of 2.5%.

Energy prices were down 9.6% on the previous month, driven mainly by easing costs for and electricity.

The office offers more detailed data on its website.

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