Manufacturing prices in Germany decreased by 2% yoy and surprised economists. This is the weakest decline on an annual basis since August 2015. On a monthly basis, however, manufacturing prices rose by 0.2% in July. The increase was smaller than reported a month earlier, when was recorded an increase of 0.4% MoM. In June, growth was also 0.4% MoM, while in May prices rose by 0.1% MoM.
The manufacturing prices of energy products decreased by 6.2% on a monthly basis, while those of intermediate goods dropped by 1.8%. In contrast, durable consumer goods rose by 0.4% and prices of capital goods and durable consumer goods increased by 0.5% and 1.2%.
The core index, which excludes prices of energy decreased by 0.5% yoy (in June decrease by 0.7%) and increased slightly by 0.2% mom (as was the rate on a monthly basis and month earlier).
Producer prices in Germany rise by an average of 2.04% between 1950 to 2016, reaching a peak of 22.41% in June 1951 and a record low of -7.79% in July 2009.
more recommended stories
UK manufacturing sector ended 2016 with positive momentum
The UK manufacturing sector ended 2016.
South Korean economy slowed down in Q3 2016
South Korean economy expanded in Q3.
Business climate in Germany grew in October
The business climate in Germany grew.
Eurozone economy lost momentum in September 2016
Eurozone economy lost momentum in September.