German producer prices rise a little more than expected

German producer prices rose a little more than expected in May, according to the latest figures from Destatis.

Prices were up 0.4% from April versus expectations of a 0.3% increase.

On the year, however, producer prices were 2.7% weaker. Still, this was better than the 2.9% drop expected by economists.

Excluding energy, prices were up 0.2% on the month and down 0.8% on the year.