The producer prices in Germany rose in May 2016, encouraged by the monthly increase in energy prices. However, on an annual basis they remain at historically low levels. According to the federal statistics, the producer prices rose by 0.4% in the fifth month of the year compared to April, but decreased by 2.7% yoy. This is the 34th consecutive monthly decline on year-on-year basis. In April, producer prices increased by 0.1% compared to March, but fell 3.1% compared to the same period of 2015.
At the same time, the data show that producer prices in May rose by more than expected as economists, had forecast producer prices to rise by 0.3% for the month and to fall by 2.9% yoy in May.
The base index, which excludes energy, increased by 0.2% on a monthly basis and decreased by 0.8% per year. Energy prices remain the main driver of the index in May. During the month they increased by 0.7% compared to April, decreasing by 8% yoy.
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