On a month over month basis, Germany's PPI was flat in March, following February's 0.50% declines, according to data released yesterday (Wednesday) by the German statistics agency Destats. However, compared to a year ago, the German PPI fell 3.10% in March, accelerating from February's declines of 3.0% year over year declines and missing forecasts of a dip of 2.90%. The 3% year over year decline was the sharpest since January 2010 when the PPI fell 3.50%. Stripping out energy prices, Germany's PPI fell only 0.90% compared to a year ago. Intermediate goods fell 2.30% and non-durable consumer goods were down 0.30%. On the other hand, capital goods increased 0.60% and durable goods gained 1.40%. The German PPI has been steadily declining since August of 2013.