Germany’s producer prices declined at a slower pace in August, Destatis reported Tuesday.
Producer prices decreased 1.6 percent year-on-year in August, slower than the 2 percent decline seen in July. Nonetheless, producer prices have been falling since August 2013.
Excluding energy, producer prices fell 0.3 percent from the prior year and remained unchanged from July.
Energy prices decreased 5.5 percent and that of intermediate goods declined 1.6 percent. In contrast, prices of non-durable consumer goods rose 0.7 percent and capital goods prices gained 0.6 percent. Likewise, durable consumer goods prices moved up 1.2 percent.
Month-on-month, producer prices slid 0.1 percent, which was the first fall in six months. Prices had increased 0.2 percent in July.