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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
German Producer Prices for January came in above expectations at -4.4% Y/Y (vs -6.6% cons; -5.1% prior, revised from -8.6%) and +0.2% M/M (vs +0.1% cons; -0.8% prior, revised from -1.2%).
- A weightings update, particularly of subcategories within the energy category, now based on 2021 data, accounted for the Y/Y series being revised upwards for most months of 2023. Especially the energy base effects driving the series deeply into negative territory appear to be lower after the revision.
- Looking at the individual categories, intermediate goods deflated by -3.7% Y/Y (vs -2.8% prior), suggesting further incoming disinflation for consumer goods. Investment, durable, non-durable, and consumption goods all printed their lowest increase since 2021, the start of the updated series, at +3.0%, +1.6,%, +1.1%, +1.1%, respectively (vs priors at +4.1%, +3.2%, +2.8%, +2.9%).
- Energy base effects continued to taper off, with the category deflating -11.7% Y/Y (vs -15.1% prior).
MNI, Destatis
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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