2018.06.2002:16:00UTC+00Germany's Producer Price Inflation At 7-Month High

Germany's producer prices increased at the fastest pace in seven months in May, figures from Destatis showed Wednesday.

Producer prices climbed 2.7 percent year-on-year in May, faster than the 2 percent increase in April. A similar faster growth was last seen in October. Prices were forecast to climb 2.5 percent.

Excluding energy, producer prices climbed 1.7 percent from the previous year and by 0.2 percent from April.

On a monthly basis, overall producer prices gained 0.5 percent for the second straight month and this was the third consecutive rise in prices. Economists had forecast a monthly increase of 0.4 percent in May.