Allemagne Changement des prix à la production

Producer prices in Germany unexpectedly dropped by 0.2% year-on-year in March 2025, reversing a 0.7% rise in February and missing market forecasts of a 0.4% gain. It marked the first decline in producer prices since last October, mainly driven by lower energy prices (-3.6%), with electricity prices falling 4.3%, natural gas down 3.6%, and district heating decreasing by 1.9%. By contrast, prices for non-durable consumer goods rose by 2.6%, and durable consumer goods increased by 1.3%. Notably, the cost of capital goods also advanced by 1.9%, particularly in machinery (+2.0%) and motor vehicles, trailers, and semi-trailers (+1.4%). Additionally, prices of intermediate goods rose by 0.5%. Excluding energy, producer prices advanced by 1.4%. On a monthly basis, the PPI fell by 0.7%, marking the fourth straight month of decline, the steepest falls since December 2023, following a 0.2 percent drop in the previous month and missing the market consensus of a 0.1% drop.