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Financial News: Germany's Producer Price Inflation Eases In May

Germany's Producer Price Inflation Eases In May

06/20/2017 - 02:40:00 (RTTNews)

(RTTNews) - Germany's producer price inflation eased to a four-month low in May, figures from Destatis revealed Tuesday.

Producer prices advanced 2.8 percent year-on-year in May, slower than the 3.4 percent growth seen in April and the 2.9 percent increase economists had forecast. The 2.8 percent was the weakest growth since January.

Month-on-month, producer prices fell 0.2 percent, reversing a 0.4 percent rise in April. This was the first fall in eight months. Economists had forecast a marginal 0.1 percent fall.

Excluding energy, producer prices advanced 2.7 percent from previous year and edged up 0.1 percent from April.

Energy prices rose 3 percent though the development of prices of the different energy carriers diverged. Prices of intermediate goods climbed 3.7 percent and that of non-durable consumer goods by 3.5 percent.

Prices of durable consumer goods and prices of capital goods increased each by 1.1 percent.

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