FX.co ★ German Wholesale Prices Continue To Decline

Germany's wholesale prices continued their decline in May, albeit at a more moderate rate, according to data released by Destatis on Thursday. The annual decrease in wholesale prices was 0.7 percent in May, an improvement compared to the 1.8 percent drop seen in April.

This downward trend in wholesale prices, which began in May 2023, saw its slowest reduction yet in the current sequence. The primary factor behind the recent decline was a significant 13.9 percent drop in prices within the wholesale trade of chemical products. Additionally, decreases were observed in the prices of iron, steel, and ferrous semi-finished metal products.

On a month-to-month basis, the rate of wholesale price inflation eased to 0.1 percent in May from 0.4 percent in April, marking the third consecutive monthly increase.