It is a busy day on the European economic calendar. This morning, German producer price figures kickstarted the European session.
The German Producer Price Index slid by 2.6% in March versus a forecasted 0.5% decline. In February, the Index declined by 0.3%. Despite the monthly fall, producer prices of industrial products were up 7.5% compared with March 2022.
According to Destatis,
- Energy prices were up 6.8% compared with March 2022, with natural gas (distribution) prices (+19.1%) the main contributor.
- There were also marked increases in prices for energy products, capital goods, non-durable consumer goods, intermediate goods, and durable consumer goods.
- However, energy prices also…
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