(MENAFN)
The Federal Statistical Office (Destatis) said on Friday that the producer prices for industrial goods in Germany in August stayed the same as the earlier month but dropped 1.2 percent in comparison to the same month a year ago.
Destatis said that the main driver for the yearly drop in producer prices was seen in the energy prices, that declined 3.9 percent, without energy, the overall producer prices lost 0.4 percent since August of 2019.
In detail, "particularly strong price declines" were seen in natural gas and petroleum, losing 9.9 and 14.4 percent respectively.
Besides the energy, secondary raw materials reported a larger decline, losing 17 percent as precious metals prices saw increases of 26.3 percent.
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