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Financial News: Germany Wholesale Price Inflation Eases In June

Germany Wholesale Price Inflation Eases In June

07/14/2022 - 03:29:00 (RTTNews)

(RTTNews) - Germany's wholesale price inflation eased for the second straight month in June, though it remained strong overall, data from Destatis showed on Thursday.

The wholesale price index climbed 21.2 percent year-year-year in June, slower than the 22.9 percent rise in May.

The annual price growth in June was largely driven by increased prices for raw materials and intermediate goods.

As in the previous two months, the effects of the war in Ukraine on wholesale prices were observed in the wholesale trade in raw materials and energy sources, but also in food, Destatis said.

Wholesale prices of mineral oil products grew sharply by 62.0 percent and that of solid fuels surged 80.9 percent.

On a monthly basis, wholesale prices edged up 0.1 percent in June, following a 1.0 percent gain in the preceding month.

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