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Producer prices in Germany in July fell the most since 2009


August, 21 2023
watermark Economic news

In July, producer prices in Germany fell by 6% year-on-year, which was the largest decline since 2009.


According to Destatis, this decline followed a slight increase in June by 0.1%. Compared to June, prices fell by 1.1%, while in June they fell by 0.3%. Experts expected a drop of 5.1% YoY and a decrease of 0.2% in monthly terms.


Analysts note that the main reason for the decline in prices is a sharp drop in the cost of energy by 19.3% compared to last year's values. Wholesale electricity prices have fallen by 30%. However, if energy carriers are not taken into account, producer prices actually increased by only 2% YoY.


The cost of food increased by 9.2%, car prices increased by 5.1%. Intermediate goods became more expensive by 3.4%, production equipment – by 5.5%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.