A surge in December's German producer prices at more sluggish pace compared to the earlier month amid wanned European inflation owing to the slip in energy prices.

As announced by the Federal statistics office, the producer prices of the industrial products nudged up by 21.6% while projections hovered around a slower raise at 20.8%. Producer prices for November edged up 28.2% YoY.

Prices slumped by 0.4% considering the earlier month, more eased than predictions of 1.2% dip. Marking it the third retreat in a row due to the plunge in energy prices.

Speaking of December's MoM drop, it was triggered mainly by the prices of energy that sagged at 1.0% owing to the tumble of natural gas and mineral oil prices. Versus October, the energy prices saw a drop of 9.6%.

Throughout the last year, the producer prices for industrial products advanced by 32.9%.