Financial News: Germany Wholesale Prices Fall Further

Germany Wholesale Prices Fall Further

11/15/2024 - 03:12:00 (RTTNews)

(RTTNews) - Germany's wholesale prices continued to decline in October, though at a slower pace, data from Destatis revealed on Friday.

Wholesale prices decreased 0.8 percent year-on-year in October, slower than the 1.1 percent drop in September. Wholesale prices have been falling since May 2023, and the latest drop was the weakest in three months.

Data showed an 11.5 percent drop in wholesale prices of mineral oil products. The cost of iron, steel, and semi-finished products fell 5.3 percent, and peripheral equipment prices dropped 4.9 percent.

On a monthly basis, wholesale prices slid 0.4 percent in October, reversing a 0.3 percent fall in September.

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