German producer prices up 1.1% in July

Tuesday, 20. August 2019 08:00

Producer prices in Germany increased by 1.1% in July compared to the same month a year ago, the country's national statistical office Destatis announced on Tuesday. In June, the producer price index was up 1.2%.

The index saw an increase in prices in all main industry groups with energy contributing the most to the rise. In July, energy prices climbed 2.1% year on year with electricity soaring by 8.4%. Excluding energy, the producer price index added 0.7% compared to the same month in 2018. Prices of non-durable consumer goods rose 1.7%, capital goods prices were up by 1.5%, durable consumer goods prices added 1.3%, while intermediate goods prices grew by 0.7%.

On a monthly basis, the producer price index rose 0.1% in July compared to June.

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Breaking the News / NP