German PPI down last month

Falling prices have hit Germany’s producers for the first time since December 2009, the Federal Statistics Office announced yesterday. The Producer Price Index (PPI) fell by 0.3 per cent, month-on-month, in August. That compares with a 0.7 per cent increase in the month before. Prices are up on an annual basis, rising by 5.5 per cent compared with August 2010. That is a slowdown in the annual rate of increase, which grew by 5.8 per cent in the twelve months to July.