Germany’s producer prices declined at the slowest pace in the current sequence of falls.

This began in July last year, data published by Destatis showed on Friday.

Producer prices registered an annual decrease of 1.6 per cent in June after declining 2.2 per cent in May.

Prices have been falling since July 2023.

The decline in June was largely due to lower energy prices, which were 5.9 per-cents cheaper than last year.

Lower natural gas and electricity prices had the biggest influence on energy prices.

Excluding energy prices, producer prices were 0.3 per cent higher compared to June 2023 and 0.1 per cent higher than in May.

Prices for intermediate goods declined 0.9 per cent from last year, primarily due to price reductions for paper, cardboard, and metals.

At the same time, prices for consumer goods rose 0.6 per cent, and those for capital goods increased by 2.3 per cent.

Month-on-month, producer prices raised 0.2 per cent in June after remaining flat in the prior month. The expected increase was 0.1 per cent. 

(dpa/NAN)