Wednesday, the Czech Statistical Office announced that the industrial producer prices dropped 2% year-over-year in March, after falling 0.6% in February. This was the largest annual decline since 1991. Economists were looking a decline of 0.6%.

Producer prices for basic metals and fabricated metal products declined 0.6% annually in March, after rising 3.4% in February. At the same time, coke and refined petroleum products prices dropped 36.6%, while food products, beverages and tobacco prices were down 4.3%.

On a monthly basis, producer prices dipped 1.1% in March, in contrast to a 0.3% fall in the previous month.

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