German Producer Prices Flat in May

1 min read

The FINANCIAL — Price levels of goods leaving Germany’s factory gates in May were unchanged from April, but continued to fall in annual terms, according to Nasdaq.

Producer prices dropped 1.3% from May last year, owing to lower energy prices, the federal statistics office, Destatis, said on June 19.

Economists polled by The Wall Street Journal had expected a monthly increase of 0.2% and an annual decline of 1.1%.

Prices at the factory gates influence prices paid by consumers.

Excluding energy prices, which can be volatile, producer prices in Europe’s largest economy were flat on the month and fell 0.3% on the year.

Energy prices were down 0.2% from April and declined 4.1% from May last year, Destatis said.

Prices for consumer durables, meanwhile, rose in both monthly and annual terms.

 

See also  Deliveroo picks up Grimble as chief financial officer

Leave a Reply