2020.04.1708:13:00UTC+00Denmark Producer Prices Fall Most Since 2016

Denmark's producer prices declined at the fastest pace in nearly four years, mainly due to a massive fall in prices in raw material extraction and energy supply sectors, figures from Statistics Denmark showed on Friday.

The producer price index fell 3.9 percent year-on-year in March, following a 3.4 percent decline in February. This is the largest decline since May 2016, when prices dropped at the same pace.

The latest decline in the producer prices was due to 33.6 percent and 31.6 percent decreases, respectively, in prices for raw material extraction and energy supply, the agency said.

Domestic market prices declined 6.2 percent annually in March, while foreign market prices fell 2.2 percent.

On a monthly basis, producer prices fell 1.9 percent in March.

Import prices decreased 1.9 percent yearly in March after a 0.8 percent drop in the previous month. Prices fell 1.1 from a month ago.