Germany’s wholesale prices declined at a slower rate in October, data from Destatis showed Wednesday.
Wholesale prices slid 0.7 percent year-over-year in October following the 0.9 percent fall in September.
The 3.2 percent decrease in prices of solid fuels and related products impacted the overall prices significantly. Also, wholesale price of live animals fell 14.6 percent due to the oversupply of pigs for slaughter.
Prices of grain, unmanufactured tobacco, seeds and animal feeds and prices of fruit, vegetables and potatoes dropped 8.3 percent and 5.1 percent, respectively.
On a month-on-month basis, wholesale prices declined 0.6 percent in October after the 0.1 percent rise in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com