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Tuesday, the German Federal Statistical Office announced that the index of selling prices in wholesale trade declined 3.3% year-over-year in December, compared with a 0.8% fall in the previous month. This was the highest price decline since March 1999. Economists were looking for a decrease of 2.1%.
On a monthly basis, the index of selling prices in wholesale trade dropped 3% in December, after falling 3.3% in November. Economists had predicted a decline of 1.8%.
In 2008, the wholesale price index rose 5.4% compared to the previous year.
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