Wednesday, Germany's Federal Statistical Office said in a report that the wholesale price index or WPI dropped 8% year-over-year in March, after falling 5.7% in February. Economists had predicted a decline of 7.1% for March. A year ago, wholesale prices were up 7.8%.

The wholesale prices in March showed the strongest annual decline since January 1987, the Destatis said

On a monthly basis, wholesale prices declined 0.9% in March, compared with a 0.1% fall in the previous month. Economists were looking a decline of 0.3%.

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