Destatis released its producer price index (PPI) for Germany on Friday. German PPI producer prices declined 0.4% in October, missing expectations for a 0.2% fall, after a 0.4% drop in September.

On a yearly basis, German PPI dropped 2.3% in October, missing expectations for a 2.0% decrease, after a 2.1% fall in September.

PPI excluding energy sector fell by 0.7% year-on-year in October.

Energy prices were down 6.5% year-on-year in October.

Consumer non-durable goods prices fell 0.5% year-on-year in October, intermediate goods sector prices decreased by 1.9%, while capital goods prices increased 0.6% and durable consumer goods sector prices rose 1.3%.