In Germany, producer prices fell in July on an annual and monthly basis

German producer prices fell by 6 percent in July compared to a year earlier, after the previous month’s annual price increase of 0.1 percent. Analysts expected a smaller, 5.1 percent decrease in producer prices for July.
Compared to the previous month, producer prices decreased by 1.1 percent in July, against the expected 0.2 percent decrease, after a 0.3 percent monthly price decrease was recorded in June.

The prices of non-durable consumer goods in July were 8.1 percent higher than in July 2022, there was no change compared to June this year. Food prices rose by 9.2 percent. The price of sugar increased particularly strongly, by 87.5 percent. Processed potatoes cost 32.2 percent and pork 32 percent more than last July. The price of processed and preserved fruit and vegetables went up by 18.5 percent, and the price of milk and cream by 0.1 percent compared to the previous year.
Only a few products were cheaper in July compared to last July, so the price of butter, for example, decreased by 30.4 percent and that of vegetable oils by 38.8 percent.