German Producer Prices Unexpectedly Fall | Business| Economy and finance news from a German perspective | DW | 18.02.2004
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German Producer Prices Unexpectedly Fall

German producer prices unexpectedly fell in January for the first time in eight months, suggesting the euro's appreciation against the dollar is helping to rein in inflation in Europe's biggest economy, according to Bloomberg News. The cost of goods ranging from rubber to machine tools declined 0.2 percent from December, the Federal Statistics Office said. From a year ago, prices rose 0.2 percent. Economists had expected them to increase 0.2 percent, the median of 27 estimates in a Bloomberg News survey showed. Import prices fell the most in seven months in December, as the euro's 20 percent gain against the dollar last year lowered the cost of imported goods. The euro rose to above $1.29 on Wednesday, the highest since its introduction in 1999.