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Germany wholesale prices fall again in June, easing to 4.9% y/y

The June monthly decline was driven largely by petroleum product prices, which fell 6.8% month over month.

Reported · Written up by our desk · Inflation

Germanys wholesale prices kept dropping in June, with the monthly figure down further after a prior decline, according to Forexlive. The data showed wholesale prices fell 0.7% month over month in June, following a 0.6% drop in May.

On an annual basis, the estimate for June eased to 4.9% year over year, from 5.9% in May. The year over year level remains elevated, the outlet noted, reflecting earlier energy and raw material price build ups tied to the start of the US-Iran conflict.

Forexlive said the June monthly drop was largely attributable to a 6.8% fall in petroleum product prices. Prices in the wholesale trade of non ferrous ores, metals, and semi finished metal products also declined 2.7% versus May.

Even with the recent month to month easing, both categories were still higher than a year earlier, Forexlive added. Petroleum products were up 21.7% year over year, while non ferrous ores, metals, and semi finished metal products were up 31.0% year over year.

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