Germany's producer prices declined for the fifth straight month in November due to cheaper energy costs, Destatis reported Wednesday.
Producer prices dropped 7.9 percent year-over-year in November, slower than the 11.0 percent fall in October. Economists had expected a decline of 7.5 percent.
The overall decrease in November was largely attributed to a 21.4 percent plunge in energy costs.
Prices for intermediate goods were 4.1 percent lower compared to last year. Meanwhile, costs for consumer goods rose 3.7 percent amid higher food prices.
On a monthly basis, producer prices dropped 0.5 percent in November versus an expected fall of 0.3 percent.
