Germany's producer prices grew at a faster pace in December largely due to higher capital goods prices, data from Destatis showed on Monday.

The producer price index registered an annual growth of 0.8 percent after a 0.1 percent gain in November. Prices increased for the second straight month.

The annual growth in PPI largely reflects the 1.8 percent increase in capital goods prices. Consumer goods, durable goods and intermediate goods were also more expensive than in the same month last year, while energy was cheaper.

Cost of consumer goods gained 2.6 percent and durable consumer goods prices rose 1.0 percent. At the same time, intermediate goods prices logged a marginal 0.1 percent gain. Energy prices were down 0.2 percent.

Excluding energy, producer prices rose 1.2 percent in December compared to the same month last year and remained unchanged compared to November.

On a monthly basis, producer prices edged down 0.1 percent, reversing a 0.5 percent rise in November.

On average, producer prices for 2024 were 1.8 percent lower than in the previous year. This was in contrast to the 0.2 percent rise in 2023.

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