06:00 AM GMT, Germany – Inflation Data for March:
- Yearly German PPI: actual -0.2% YoY; forecast 0.4% YoY; previous 0.7% YoY;
- Monthly German PPI: actual -0.7% MoM; forecast -0.1% MoM; previous -0.2% MoM;
The lower-than-expected PPI reading was due to a significant drop in energy prices. With energy excluded, PPI would be up 1.4% MoM and 0.2% YoY. The biggest price increases were seen in capital goods (+1,9% MoM), machinery costs (+2%) and food (+2,9%).
Nevertheless lower energy prices is a key “good news” for German economy, whose recent years; crisis was attributed mainly to the energy costs dragging down on both consumers and production. It also motivates further cuts in the Eurozone, given the soothing of the most volatile prices.
Source: xStation5
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