German producer’s prices decline at slow pace in june

Germany’s producer prices declined at the slowest pace in the current sequence of falls.

This began in July last year, data published by Destatis showed on Friday.

Producer prices registered an annual decrease of 1.6 per-cents in June after declining 2.2 per-cent in May.

Prices have been falling since July 2023.

The overall decline in June was largely due to lower energy prices, which were 5.9 per-cents cheaper compared to last year.

Lower natural gas and electricity prices had the biggest influence on energy prices.

Excluding energy prices, producer prices were 0.3 per-cent more expensive compared to June 2023 and 0.1 per-cents higher than in May.

Prices for intermediate goods declined 0.9f per-cent rom last year, primarily due to price reductions for paper and cardboard as well as metals.

At the same time, prices for consumer goods rose 0.6 per-cents, and those for capital goods increased by 2.3 per cents.

Month-on-month, producer prices raised 0.2 per-cents in June after remaining flat in the prior month. The expected increase was 0.1 per-cents.