Destatis released its producer price index (PPI) for Germany on Wednesday. German PPI producer prices were flat in March, missing expectations for a 0.2% rise, after a 0.5% drop in February.

On a yearly basis, German PPI dropped 3.1% in March, missing expectations for a 2.9% decrease, after a 3.0% fall in February. It was the biggest drop since January 2010.

PPI excluding energy sector fell by 0.9% year-on-year in March.

Energy prices were down 9.2% year-on-year in March.

Consumer non-durable goods prices fell 0.3% year-on-year in March, intermediate goods sector prices decreased by 2.3%, while capital goods prices increased 0.6% and durable consumer goods sector prices gained 1.4%.