German producer price gains slow in October

Factory gate price increases in the euro area's largest economy slowed down by a tad less than expected in October.

According to the Ministry of Finance, last month producer prices advanced at a year-on-year clip of 2.7%, down from the 3.1% pace observed in September.

In terms of monthly rates of change, producer prices were 0.3% higher, the same as in the month before.

Producer prices were also 2.7% higher excluding energy.

By categories, in October the cost of intermediate goods rose by 4.1% month-on-month, those of energy by 2.8%, non-durable consumer goods prices by 2.8%, those of durables by 1.2% and those of capital goods by 1.1%.

Within energy, electricity prices increased by 4.1% and those of petroleum products by 3.4%, but natutal gas distribution prices fell by 4.2%.