German producer prices remained unchanged in March, while the annual rate stabilized at the February level.
Factory gate prices rose 3.1% in March from the same month of 2016, the federal statistics office Destatis said on Thursday. The annual rate matched the February level, the strongest annual rise in over five years.
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Economists in a Wall Street Journal's survey forecast producer prices would remain unchanged on the month and increase by 3.1% on the year, matching the announced figures.
Following the pattern of previous months, energy prices had the biggest effect on the overall index, Destatis said. Energy prices were 4.5% higher in March than in the same month in 2016, although they declined by 0.6% compared with February.
Excluding energy prices, which tend to be volatile, producer prices rose 0.3% on the month and increased by 2.6% on the year.
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(END) Dow Jones Newswires
April 20, 2017 02:25 ET (06:25 GMT)