German producer prices fall by most in nine months.
Wholesale price deflation in Germany picked up to its steepest rate in nine months in June, according to the Federal Statistical Office on Friday.
Source: Sharecast
The producer price index fell at a year-on-year clip of 1.3% last month, following a 1.2% drop in May, Destatis reported.
This was the fourth straight month of annual producer price deflation and in line with economists' predictions.
Energy prices were the main reason for the year-on-year fall, with prices down 6.4% compared with June 2024, as electricity prices dropped 8.8%.
Natural gas prices were also down 6.9%, while mineral oil cost 7.7% less, heating oil was 6.4% cheaper and motor fuel prices fell 4.2%.
In contrast, capital goods prices were up 1.7% on last year, while non-durable consumer goods were 3.6% higher and durable consumer goods were 1.7% more expensive. Intermediate goods meanwhile fell 0.4%.
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.
