The Federal Statistical Office said, the Producer and Import Price Index fell in January 2019 by 0.7% compared with the previous month, reaching 101.7 points (December 2015 = 100). This decline is due in particular to lower prices for petroleum products. Economists had expected a 0.4% decrease.

Compared with January 2018, the price level of the whole range of domestic and imported products fell by 0.5%. Economists had expected a 0.2% decrease.

The fall in the producer price index compared with the previous month was mainly due to lower prices for mineral oil products. Scrap was also cheaper. By contrast, rising prices were observed for watches.

Lower prices compared to December 2018 were registered in the import price index, in particular for petroleum products, pharmaceutical specialties and crude oil and natural gas. The same applies to non-ferrous metals and products made from them as well as to metal products. Price increases, however, showed vegetables and potatoes.