The FINANCIAL — Energy prices remained a damper on German factory-gate prices in July, data from the federal statistics office Destatis showed on August 20, according to Nasdaq.
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Producer prices were unchanged on the month and fell by 1.3% year-over-year in July. Economists in a Dow Jones Newswires poll predicted an unchanged reading from June and expected prices to fall by 1.5% from the previous year.
Excluding energy, a volatile item, producer prices were unchanged from the previous month and fell 0.3% year-over-year in Europe’s largest economy.
Energy prices fell by 0.3% from the previous month and were down 4.1% from a year ago.
