By Nina Adam
?FRANKFURT--German producer prices increased by more than expected in October from the preceding month amid sharp increases in energy prices.
?Germany's statistics office? said? Friday that producer prices increased 0.7% ?from September as energy prices jumped 2.3%. Prices for light h?eating oil? ?surged ?15.4%? from the preceding month?, while diesel fuel ?prices ?rose ?5.1?%.
Economists polled by The Wall Street Journal had forecast a 0.2% month-on-month gain in producer prices.
But Germany's producer prices were still down 0.4% compared with October last year, although the annual rate of decline was modest compared with decreases registered in the previous three years.
Excluding energy prices, which canbe volatile, producer prices in Europe's largest economy rose 0.1%? on the month and increased 0.3% on the year.?
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(END) Dow Jones Newswires
November 18, 2016 02:59 ET (07:59 GMT)
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