German producer price gains ebb in June

By

Sharecast News | 20 Jun, 2023

Factory gate prices in the single currency area's largest economy dropped last month.

According to Destatis, in seasonally adjusted terms, German producer prices fell at a month-on-month pace of 1.4% in June.

That brought the annual rate of increase down from 4.1% in May to 1.0%.

In comparison to a year earlier, it was the prices of capital goods and non-durable consumer goods that had exerted the greatest upwards pressure.

Capital goods prices were up 6.5% year-on-year and those of non-durable consumer goods by 10.1%.

Versus the previous month, those two categories saw increased of 0.2% and 0.1%, respectively.

Food prices had gained 11.9% over the past 12 months with the price of sugar surging by 92%, followed by a 42% jump in those of processed and preserved potatoes.

Prices for intermediate goods declined by 1.1% over the month and those for energy by 3.5%.

Last news