In April this year, the year-on-year (YoY) change rate of such prices was minus 3.3 per cent.

Lower energy prices continued to be the main reason for the YoY decline in producer prices in May.

Excluding energy prices, German producer prices remained unchanged from May 2023 and rose by 0.3 per cent month on month (MoM).

Intermediate goods prices were 1.8 per cent lower in May 2024 than a year earlier, whereas higher prices had to be paid for consumer and capital goods. Compared with the previous month, Intermediate goods prices increased by 0.3 per cent in May.

Capital goods prices in May rose by 2.4 per cent YoY and 0.2 per cent MoM, a Destatis release said.

Non-durable consumer goods cost 0.4 per cent more in May 2024 than in May 2023 (plus 0.1 per cent on April 2024).

Durable consumer goods were 0.7 per cent more expensive in May this year than in the same month last year. Their prices declined by 0.1 per cent MoM.

Fibre2Fashion News Desk (DS)