German producer price index eases in the month of June. The German Federal Statistical Office showed that the producer price index for industrial products rose 1.2 percent on a year-on-year basis, a deceleration from 1.9 percent in the prior month and below consensus expectations of 1.4 percent. Sequentially, the overall index dropped 0.3 percent, as compared with May’s data of a fall of 0.1 percent and consensus expectations of a fall of 0.2 percent.
Energy prices, the development of which had the greatest effect on the growth of the overall index, rose 2.2 percent. On an annual basis, electricity prices rose 7.4 percent whereas natural gas prices dropped 0.6 percent and prices of petroleum products 2 percent. Excluding energy, the overall index came in at 0.9 percent year-on-year, unchanged from May’s figure.
On a year-on-year basis, non-durable consumer goods prices rose 2.1 percent, whereas it rose 0.5 percent sequentially. Food prices rose 2.6 percent. Meanwhile, prices of capital goods rose 1.5 percent, whereas prices of durable consumer goods rose 1.4 percent. Prices of intermediate goods dropped 0.2 percent year-on-year and were down 0.2 percent sequentially.
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