Germany Wholesale Prices Fall Most Since 2016

Germany's wholesale prices declined at the fastest pace in more than three years in October, data from Destatis revealed Monday.

Wholesale prices fell 2.3 percent year-on-year in October, following a 1.9 percent drop in September. This was the biggest annual fall since May 2016.

The largest annual fall in prices was seen in petroleum products, followed by waste and residual materials.

On a monthly basis, wholesale prices slid 0.1 percent, but slower than the 0.4 percent decrease logged in September. This was the fifth consecutive decrease.

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