23 November 2001, 13:03 German Pipeline Price Pressures Plunge In Oct
German PPI -0.9%
m/m in Oct., with the annual rate down to only +0.6% from +1.9% in Sept.
While the decline was led by 13.6% oil price drop in the month, ex-oil
PPI also declined, down 0.5% m/m. PPI annual rate looks set to go
negative in Nov/Dec. German import prices plunged 1.6% in Oct., with the
annual rate down to -5.6% from -3.6% -- drop larger than most analysts
expected. Data from eurozone's largest state ensure Oct. EMU PPI to be
negative y/y, raising question of whether price pressures are lower than
ECB assumed in its Nov. 8 rate cut. Data will rekindle discussion of
further ECB cuts and debate over the possibility of deflation.
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