German PPI post first increase since June 2023

German producer prices unexpectedly rose by 0.1% year-on-year in November 2024, marking the first increase in more than a year, according to data from the Federal Statistical Office.

The rise beat market expectations for a 0.3% decline, reflecting a marked improvement in domestic market dynamics.

Capital goods contributed significantly to the rebound, rising by 1.9%, driven by a 2.0% increase in machinery costs and a 1.4% increase in vehicles and parts costs.

Consumer goods prices also rose by 0.9%, with non-durable consumer goods rising by 2.4%, while intermediate goods also gained by 0.4%.