Producer prices in Germany observed an annual decrease of 1.6% in June, the country's statistical office Destatis said in its report issued on Friday. Compared to May, the figure advanced by 0.2%.
Lower energy prices continued to be the main driver for the year-over-year decline in producer prices in Germany. The cost of energy fell by 5.9% on an annual basis and slipped by 0.1% on a monthly one. Intermediate goods dropped by 0.9% year-on-year while rising by 0.1% month-on-month. Meanwhile, capital goods grew by 2.3% compared to June 2023 and 0.2% compared to May 2024.
Durable goods also rose by 0.7% annually and 0.1% monthly. Non-durable goods grew by 0.6% year-on-year and 0.3% month-on-month.
