BERLIN, Dec 20 (Reuters) – Germany’s producer price index eased in November for the second month in a row, adding to signs that high inflation could be waning in Europe’s largest economy as the cost of energy products fell, according to data released on Tuesday .
Producer prices of industrial products rose 28.2% on the same month last year compared with a 34.5% year-on-year rise in October, the Federal Statistical Office reported. Analysts had forecast a November reading of 30.6%.
Compared with October 2022, prices fell 3.9%, which was below consensus for a drop of 2.5%.
Energy prices were down 9.6% on the previous month, driven mainly by easing costs for natural gas and electricity.
The office offers more detailed data on its website.
Reporting by Rachel More Editing by Miranda Murray
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