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Producer prices in Germany fell in July


August, 20 2024
watermark Economic news

In July 2024, producer prices in Germany decreased by 0.8% compared to July last year, according to the Federal Statistical Office Destatis. This trend has developed against the background of a sharp decline in energy prices, which fell by 4.1% in July.


Energy resources fell in price by 4.1%, including natural gas — by 12.3%, and electricity — by 9.2%. At the same time, the cost of intermediate goods increased by 0.3%, means of production — by 2%, vehicles — by 1.3%.


Nevertheless, non—durable consumer goods increased in price by 0.6%, and oil prices increased especially strongly - by 33%. Confectionery products have also become more expensive — by 21.5%. Consumer durables rose 0.7%.


If energy resources are not taken into account, producer prices in July 2024 still increased by 0.9% year-on-year. Interestingly, the monthly price increase was 0.2% and coincided with the June figure.


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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.