Financial News: Germany Wholesale Prices Fall At Slower Pace

Germany Wholesale Prices Fall At Slower Pace

05/28/2024 - 03:30:00 (RTTNews)

(RTTNews) - Germany's wholesale prices declined at a slower pace in April, data published by Destatis revealed on Tuesday.

Wholesale prices dropped 1.8 percent on a yearly basis in April, following the 3.0 percent decline in March.

Wholesale prices have been falling since April 2023 and the latest decrease was the slowest in the current sequence of decline.

The statistical office rebased wholesale selling prices to the new base year 2021.

Lower prices for chemical products were the main reason for the annual decrease in overall wholesale prices. Lower wholesale prices were also recorded for grain, unmanufactured tobacco, seeds and animal feeds.

Month-on-month, wholesale prices reported an increase of 0.4 percent, data showed.

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