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Manufacturing prices in Germany decreased in July

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.

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