Berlin: Producer prices in Germany experienced an unexpected decline in March, falling by 0.2% year-on-year, as reported by the federal statistical office, Destatis, on Thursday. This decrease was contrary to the anticipated 0.4% rise and followed a downward revision of a 0.5% increase in February.

According to Anadolu Agency, the decline in producer prices was primarily driven by lower energy prices, which fell by 3.6% compared to the same month last year. In contrast, when excluding energy, producer prices in March showed a 1.4% increase on an annual basis.

The report highlighted that non-durable and durable consumer goods, capital goods, and intermediate goods experienced price increases compared to March of the previous year. Specifically, capital goods prices rose by 1.9%, non-durable consumer goods saw a 2.6% increase, and durable consumer goods prices went up by 1.3%.

Additionally, on a monthly basis, producer prices dropped by 0.7% in March, further indicating a shift in pricing trends within the country's producer market.