“German Producer Prices Rise Less Than Expected in March 2023: Official Data”

Official data revealed that German producer prices rose less than expected in March 2023, with energy and raw material costs falling.

The Federal Statistics Office attributed the rise in prices of industrial producers to 7.5% on an annual basis in March, after an increase of 8.9% in February.

The median forecast in a Reuters global poll was about 9.8%, while on a monthly basis, producer prices rose 0.4% in March, after increasing 1.7% in February.