In June, the annual decline in producer prices slowed down in Germany

By: Trademagazin Date: 2024. 07. 19. 11:49

In Germany, producer prices fell by 1.6 percent year-on-year in June, following a 2.2 percent year-on-year fall in the previous month, marking the twelfth consecutive month of annual decline, the German Federal Statistics Office, Destatis, said. on Friday.

In June, the decrease was still primarily due to lower energy prices. Intermediate products were also cheaper than last June, but at the same time, you had to pay more for consumption and investment goods.

Energy prices decreased by 5.9 percent compared to last June, after a 6.4 percent decrease was recorded in May. The decrease in the price of natural gas and electricity had the greatest impact on the annual evolution of energy prices. After the 16.3 percent decrease in May, the gas price fell by 14.8 percent in June, and the price of electricity fell by 11 percent in June compared to a year earlier, after 11.3 percent in the previous month.

Excluding energy prices, producer prices increased by 0.3 percent in June after stagnating in May.