German Wholesale Prices Fall Marginally In July
08/12/2024 - 03:18:00 (RTTNews)
(RTTNews) - Germany's wholesale prices continued to fall in July but the pace of decrease was marginal, data from Destatis showed on Monday.
Wholesale prices posted an annual drop of 0.1 percent after easing 0.6 percent in June.
Wholesale prices have been falling since May 2023 and the latest decline was the slowest in the current sequence of decrease.
The latest year-on-year decline was largely driven by the 8.4 percent fall in chemical product prices and 7.7 percent decrease in prices of iron, steel and semi-finished products.
Month-on-month, wholesale prices gained 0.3 percent, offsetting June's 0.3 percent fall. Economists had forecast a monthly growth of 0.2 percent.
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