Industrial producer prices in Germany fell in July

Producer prices fell by 1.5 percent in July over a year, which exceeded the 1.3 percent annual decline in June. Analysts’ average expectations had been for a 1.3 percent decline for July, the same as in June.

On a monthly basis, producer prices fell by 0.1 percent compared to June. At that time, a 0.1 percent increase was measured and analysts had expected the same for July.

According to the report, 6.8 percent lower energy prices caused the annual producer prices decrease in July. Producer prices of non-durable and durable consumer goods increased by 3.5 percent and 1.9 percent, respectively, while prices of capital goods increased by 1.8 percent, while those of semi-finished products decreased by 0.9 percent.

Excluding energy prices, producer prices rose by 1 percent in July compared to July last year, but were 0.2 percent lower month-on-month.

In Germany, industrial producer prices fell by an average of 1.8 percent in 2024 compared to the previous year; in 2023, they registered an annual average increase of 0.2 percent.