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German Wholesale Prices Fall At a Record Pace Year-Over-Year in November |
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European Economy |
Written by CEP News |
Dec 10 08 06:06 GMT |
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(CEP News) Frankfurt - German wholesale prices fell by a record 3.3% month-over-month in November, overshadowing both the 1.2% decline expected and October's 1.5% fall, the Federal Statistical Office (Destatis) reported on Wednesday.
Against expectations of a 1.3% gain in the 12 months to November, the wholesale price index fell 0.8% over the period. Wholesale price inflation had come in at 3.6% year-over-year in October. "This was the lowest year-on-year-rate since June 2002 (-1.0%)," Destatis noted. Written by CEP News European Staff in Frankfurt,
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