Destatis released its producer price index (PPI) for Germany on Friday. German PPI producer prices declined 0.7% in January, missing expectations for a 0.3% fall, after a 0.5% drop in December.

On a yearly basis, German PPI dropped 2.4% in January, missing expectations for a 2.0% decrease, after a 2.3% fall in December.

PPI excluding energy sector fell by 0.6% year-on-year in January.

Energy prices were down 7.3% year-on-year in January.

Consumer non-durable goods prices rose 0.6% year-on-year in January, intermediate goods sector prices decreased by 2.2%, while capital goods prices increased 0.6% and durable consumer goods sector prices gained 1.4%.