Destatis released its producer price index (PPI) for Germany on Wednesday. German PPI producer prices declined 0.5% in December, missing expectations for a 0.4% fall, after a 0.2% drop in November.

On a yearly basis, German PPI dropped 2.3% in December, missing expectations for a 2.2% decrease, after a 2.5% fall in November.

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

Energy prices were down 6.8% year-on-year in December.

Consumer non-durable goods prices rose 0.2% year-on-year in December, intermediate goods sector prices decreased by 2.2%, while capital goods prices increased 0.7% and durable consumer goods sector prices rose 1.5%.