Germany’s wholesale prices fall for 14th month in June

Wholesale prices in Germany have decreased at an annualized rate of 0.6% in June, data by the Federal Statistical Office showed.

The latter has been a slowdown from a 0.7% drop in May.

June marked the 14th consecutive month of decreasing producer prices, but the pace has been the softest in the sequence.

Last month, prices dropped for:

– chemical products (-0.5% YoY);
– computers and peripheral equipment (-5.4% YoY);
– live animals (-5.5% YoY);
– iron, steel & ferrous semi-finished metal products (-9.7% YoY).

In the meantime, prices went up for:

– tobacco products (5.1% YoY);
– fruit and vegetables (5.6% YoY);
– sugar, confectionery and bakery products (5.8% YoY);
– waste and scrap (9.7% YoY);
– non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products (12.7% YoY);
– coffee, tea, cocoa & spices (13.9% YoY).

The Euro was last 0.26% firmer on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0896.

The major Forex pair was holding near a fresh one-month high of 1.0900.