German PPI -0.9% m/m in Oct., with the annual rate down to only +0.6% from +1.9% in Sept. While the decline was led by 13.6% oil price drop in the month, ex-oil PPI also declined, down 0.5% m/m. PPI annual rate looks set to go negative in Nov/Dec. German import prices plunged 1.6% in Oct., with the annual rate down to -5.6% from -3.6% -- drop larger than most analysts expected. Data from eurozone's largest state ensure Oct. EMU PPI to be negative y/y, raising question of whether price pressures are lower than ECB assumed in its Nov. 8 rate cut. Data will rekindle discussion of further ECB cuts and debate over the possibility of deflation.