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Financial News: German Producer Price Inflation Slowest In 7 Months

German Producer Price Inflation Slowest In 7 Months

08/18/2017 - 02:15:00 (RTTNews)

(RTTNews) - German producer prices rose at the slowest pace so far this year in July, data from Destatis showed Friday.

Producer prices for industrial products advanced 2.3 percent year-on-year in July, slightly weaker than the 2.4 percent increase seen in June. This was the weakest since December, when prices gained 1 percent. Economists had forecast 2.2 percent annual increase.

Prices of all main industrial groups increased from the previous year in July. Prices of non-durable consumer goods increased 3.7 percent and prices of intermediate goods grew 3 percent.

Energy prices moved up 1.9 percent and that of durable consumer goods and capital goods increased 1.1 percent, each.

Month-on-month, producer prices gained 0.2 percent after staying flat in June. Prices were forecast to remain unchanged in July.

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