Producer prices of German industrial products 1.6% lower YoY in June

20 Jul '24

2 min read

Producer prices of German industrial products 1.6% lower YoY in Jun

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Producer prices of German industrial products were 1.6 per cent lower YoY and up by 0.2 per cent month on month (MoM) in June.
Lower energy prices continued to be the main reason for the YoY decline in June.
Intermediate goods were also less expensive than in June last year, whereas higher prices had to be paid for consumer and capital goods.

Producer prices of German industrial products were 1.6 per cent lower year on year (YoY) and up by 0.2 per cent month on month (MoM) in June this year, according to the Federal Statistical Office (Destatis).

In May, the YoY change rate was minus 2.2 per cent.

Lower energy prices continued to be the main reason for the YoY decline in June. Intermediate goods were also less expensive than in June last year, whereas higher prices had to be paid for consumer and capital goods.

Energy prices in June this year were down by 5.9 per cent YoY and 0.1 per cent MoM. Lower prices for natural gas and electricity had the biggest influence on this YoY rate of change.

Across all customer groups, gas prices declined by 14.8 per cent YoY in June and increased by 0.3 per cent MoM. Electricity cost 11 per cent less YoY and 0.4 per cent more MoM in the month across all consumer groups in Germany.

Excluding energy prices, producer prices were up by 0.3 per cent YoY and 0.1 per cent MoM in June.

Durable consumer goods were 0.7 per cent more expensive in June than a year earlier. Compared with May, the prices of durable consumer goods were up by 0.1 per cent in June this year.

Fibre2Fashion News Desk (DS)

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