RTTNews - Wednesday, Germany's Federal Statistical Office said that the producer price index or PPI dropped 2.7% year-over-year in April, after falling 0.5% in March. This was the lowest annual rate of PPI since June 1987. Economists were looking a decline of 1.3%. A year ago, the PPI had grown 4.7%.

On a monthly basis, producer prices declined 1.4% in April, compared with a 0.7% fall in the preceding month.

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