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Financial News: Germany's Producer Prices Continue To Fall

Germany's Producer Prices Continue To Fall

08/20/2020 - 02:23:00 (RTTNews)

(RTTNews) - Germany's producer prices declined for the sixth straight month in July, Destatis reported Thursday.

Producer prices declined 1.7 percent year-on-year in July, slightly slower than the 1.8 percent decrease seen in June. Prices have been falling since February. Economists had forecast prices to fall again by 1.8 percent.

On a monthly basis, producer prices gained 0.2 percent after remaining unchanged in June. The expected growth was 0.1 percent.

Among components, energy prices declined the most in July, down 5.8 percent. Intermediate goods prices slid 2.3 percent.

Meanwhile, durable consumer goods and non-durable consumer goods prices were up 1.6 percent and 0.5 percent, respectively. Capital goods prices advanced 1.1 percent.

Another report from Destatis showed that retail turnover increased by real 0.8 percent in the first half of 2020 compared to the preceding period. In nominal terms, retail turnover grew 1.5 percent.

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