20.07.202006:21:00UTC+00Germany Producer Prices Fall At Slower Pace In June

Germany's producer prices declined for the fifth consecutive month in June but the pace of annual fall decreased, data from Destatis revealed Monday.

Producer prices fell 1.8 percent year-on-year in June, slower than the 2.2 percent decrease seen in May. Prices have been falling since February. Nonetheless, this was faster than the 1.6 percent rise economists had forecast.

On a monthly basis, producer prices remained unchanged versus a 0.4 percent drop in May. Economists had expected a 0.2 percent rise.

Excluding energy, producer prices dropped 0.4 percent from last year and fell by 0.1 percent compared to May.

Energy prices logged the biggest annual fall of 6.2 percent, followed by a 2.5 percent drop in intermediate goods prices. Meanwhile, durable consumer goods and capital goods prices rose 1.5 percent and 1.2 percent, respectively.

At the same time, non-durable consumer goods gained 0.6 percent annually in June.