Financial News: Germany Producer Price Inflation Logs Softest Growth In

Germany Producer Price Inflation Logs Softest Growth In A Year

05/19/2023 - 02:45:00 (RTTNews)

(RTTNews) - Germany's producer price inflation posted its slowest annual growth in a year in April, Destatis reported Friday.

Producer prices logged an annual growth of 4.1 percent in April after rising 6.7 percent in March. This was the slowest growth since April 2021, when prices gained 5.2 percent.

On a monthly basis, producer prices marked the first increase since September 2022. Producer prices gained 0.3 percent, reversing the 1.4 percent decrease a month ago and in contrast to the expected fall of 0.5 percent.

The annual increase in producer prices was driven by a 6.8 percent rise in capital goods. Prices of non-durable consumer goods gained 11.4 percent and that of durable consumer goods moved up 8.8 percent. At the same time, energy prices grew only 2.8 percent.

Excluding energy, producer prices were up 0.1 percent on month and by 4.8 percent from the previous year in April.

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