BREAKING: Producer Inflation in Germany lower than expected

Monthly producer inflation in Germany declined for September by -0.1% MoM with expectations at +0.1% MoM and previous reading at -0.5% MoM.

Annual reading came out below expectations as well. The print was -1.7% YoY with expectations at -1.6% YoY and previous reading at -2.2% YoY.

The Producer Price Index (PPI) data for Germany in September came in softer than expected, showing the continued easing of wholesale price pressures. The modest drag on the headline monthly figure was primarily driven by a decline in energy prices (-0.3%). When stripping out energy, German producer prices were flat compared to August, indicating that core inflation pressures at the producer level remain well contained.

A deeper breakdown shows the following price movements:

Capital Goods: Increased slightly by +0.1%.
Durable Goods: Also saw a marginal rise of +0.1%.
Consumer Goods: Prices were flat (0.0%).
Intermediate Goods: Declined slightly by -0.1%.

Overall, this report suggests that upstream inflationary pressures are continuing to moderate in Germany, led by lower energy costs, while price movements in other key sectors remain subdued. EURUSD is slighly lower after the reading but the scale of the move is rather very small:

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