Economic Buzz: Germany Producer Price Inflation Eases In June

20 Jul 2022 , 03:25 PM

Germanys producer price inflation eased unexpectedly in June from a record high in May, though marginally, data from Destatis showed. Producer prices grew 32.7 percent year-over-year in June, following a 33.6 percent surge in May. The overall strong producer price inflation in June was primarily driven by an 86.1 percent jump in energy prices amid soaring natural gas costs. In June, consumer goods prices rose 14.7 percent from a year earlier, and durable goods prices rose 10.5 percent. On a monthly basis, producer prices increased at a slower rate of 0.6 percent in June, after a 1.6 percent gain in the previous month. Powered by Commodity Insights