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Financial News: Austria Wholesale Prices Fall Most Since August 2009

Austria Wholesale Prices Fall Most Since August 2009

06/05/2020 - 07:45:00 (RTTNews)

(RTTNews) - Austria's wholesale prices fell at the fastest pace in nearly eleven years in May, data from Statistics Austria showed on Friday.

The wholesale price index declined 7.9 percent year-on-year in May, following a 6.9 percent fall in April.

The latest decline was the worst since August 2009, when prices fell 8.6 percent.

The decline in prices was mainly due to the falling prices for other petroleum products, the agency said.

Prices for other petroleum products declined 45.5 percent annually in May. Prices for waste and residual materials fell 19.2 percent and iron and steel decreased by and 7.2 percent.

On a month-on-month basis, the wholesale prices decreased 0.7 percent in May, following a 1.7 percent fall in the prior month.

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