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Financial News: Germany's Producer Price Inflation At 9-Month High

Germany's Producer Price Inflation At 9-Month High

07/20/2018 - 02:26:00 (RTTNews)

(RTTNews) - Germany's producer prices climbed at the fastest pace in nine months in June, Destatis reported Friday.

Producer prices grew 3 percent year-on-year in June, faster than the 2.7 percent increase logged in May. The annual rate matched economists' expectations and was the fastest since September 2017.

On a monthly basis, producer prices gained 0.3 percent, in line with forecast, after climbing 0.5 percent each in April and May.

Excluding energy, producer prices gained 0.3 percent on month, taking the annual growth to 2 percent in June.

Among components, energy prices were up 6.2 percent, though the development of prices of the different energy carriers diverged. Prices of intermediate goods were up 3.2 percent, while that of non-durable consumer goods rose only 0.5 percent.

Durable consumer goods prices advanced 1.6 percent, whereas prices of capital goods increased by 1.3 percent in June.

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