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Financial News: Germany Producer Price Inflation Eases In August

Germany Producer Price Inflation Eases In August

09/20/2019 - 02:31:00 (RTTNews)

(RTTNews) - Germany's producer price inflation eased more than expected in August, data from Destatis revealed Friday.

Producer prices grew only 0.3 percent year-on-year, slower than the 1.1 percent increase in July. Prices were forecast to rise 0.6 percent.

On a monthly basis, producer prices decreased 0.5 percent, in contrast to a 0.1 percent rise in the previous month. Economists had expected prices to fall 0.2 percent.

Excluding energy, producer prices gained 0.6 percent from last year but remained unchanged on month.

The slowdown in annual inflation was driven by a 0.9 percent decrease in intermediate goods prices and a 0.3 percent fall in energy prices.

Non-durable consumer goods prices advanced 1.7 percent and durable consumer goods prices gained 1.3 percent. Prices of capital goods were up 1.5 percent.

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