German producer prices of industrial products ease in December

German producer prices of industrial products eased in December. According to the Federal Statistical Office (Destatis), the producer price index came in at 2.7 percent year-on-year in the month, a moderation from 3.3 percent year-on-year growth recorded in November.

On a sequential basis, the overall index dropped 0.4 percent, as compared with the rise of 0.1 percent recorded in November. Consensus expectations were for producer prices to have risen 3.2 percent year-on-year and dropped 0.1 percent sequentially.

The price indices of all main industrial groups rose on a year-on-year basis in December. Energy prices were up 6.9 percent year-on-year. Prices of intermediate goods and of durable consumer goods rose 1.9 percent. Capital goods prices rose 1.4 percent, whereas non-durable consumer goods prices rose 0.5 percent year-on-year.

Excluding energy, the German producer prices rose 1.6 percent year-on-year, whereas it remained the same when compared with November 2018.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at 24.374, while the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 113.633 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex