Producer prices in Germany observed an annual decrease of 0.8% in July, the country's statistical office Destatis said in its report issued on Tuesday. Compared to June, 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 the country. The cost of energy fell by 4.1% on an annual basis and rose by 0.5% on a monthly one. Intermediate goods were 0.3% higher year-on-year while increasing by 0.2% month-on-month. Meanwhile, capital goods grew by 2.0% compared to July 2023 and remained unchanged compared to June 2024.
Durable goods experienced a yearly increase of 0.7% and remained unchanged on a monthly basis. Non-durable goods saw year-on-year growth of 0.6% but experienced a slight decline of 0.1% from the previous month.
