Producer-price deflation in Germany softened in May to its lowest level in 11 months, according to data out on Thursday from the Federal Statistical Office, Destatis.
Source: Sharecast
The producer price index (PPI) fell at an annual rate of 2.2% in May, following a 3.3% drop in April. The consensus forecast was for a decline of 2.0%.
Producer prices have been falling year-on-year since July 2023, though last month's decline was the lowest rate in the current cycle.
Lower energy prices continued to be the main factor for overall deflation, falling 6.4% on last year on the back of falling prices for natural gas (-1.35) and electricity (-11.3%).
Excluding energy prices, the PPI would have been unchanged from May 2023.
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
