German producer price gains ebb in June
By Alexander Bueso
Date: Tuesday 20 Jun 2023
(Sharecast News) - Factory gate prices in the single currency area's largest economy dropped last month.
According to Destatis, in seasonally adjusted terms, German producer prices fell at a month-on-month pace of 1.4% in June.
That brought the annual rate of increase down from 4.1% in May to 1.0%.
In comparison to a year earlier, it was the prices of capital goods and non-durable consumer goods that had exerted the greatest upwards pressure.
Capital goods prices were up 6.5% year-on-year and those of non-durable consumer goods by 10.1%.
Versus the previous month, those two categories saw increased of 0.2% and 0.1%, respectively.
Food prices had gained 11.9% over the past 12 months with the price of sugar surging by 92%, followed by a 42% jump in those of processed and preserved potatoes.
Prices for intermediate goods declined by 1.1% over the month and those for energy by 3.5%.
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