German factory gate inflation slows in June

The rate of gain in German factory gate prices slowed in June.

The country's producer price index was unchanged versus the prior month and up by 2.4% year-on-year, according to the Federal Office of Statistics.

In May, factory gate prices had advanced at a 2.8% clip year-on-year.

Economists had forecast an increase of 2.4%.

Excluding energy, producer prices were ahead by 2.5% on the year, unchanged from the month before.