German producer prices gain 0.8 pct in April on month: statistics

20th May 2010, Comments 0 comments

German producer prices, the cost of goods at the factory gate, gained 0.8 percent in April from the previous month owing to higher energy prices, data released Thursday by the national statistics office showed.

Analysts polled by Dow Jones Newswires had forecast a smaller increase of 0.6 percent, following a rise of 0.7 percent in March.

On an annualised basis, producer prices marked their first rise since February 2009, gaining 0.6 percent as the euro declined in value against other major currencies owing to the eurozone fiscal crisis.

The cost of energy gained 1.4 percent in April from the previous month, but slipped by 0.2 percent on a 12-month basis, the Destatis office said.

When volatile energy prices were stripped out, the German producer price index gained 1.0 percent on the year and 0.6 percent on the month, it added.

© 2010 AFP

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