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Germany's industrial producer prices plummet 12.6% YoY in August 2023

Furthermore, compared to July ****, the year-on-year (YoY) rate was noted to be minus *.* per cent, and a monthly augmentation of *.* per cent was seen in August ****.

The overarching reason for this yearly dip has been identified as the decrease in energy prices and intermediate goods costs. While the energy sector saw a decline of **.* per cent from August ****, it did experience a *.* per cent increase compared to July ****. Likewise, intermediate goods manifested a *.* per cent reduction YoY and a minor *.* per cent decrease from the previous month, as per Destatis.