According to the report from Federal Statistical Office (Destatis), in June 2019 the index of producer prices for industrial products rose by 1.2% compared with the corresponding month of the preceding year. Economists had expected a 1.4% increase. In May 2019 the annual rate of change all over had been 1.9%. Compared with the preceding month May 2019 the overall index decreased by 0.4% in June 2019 (-0.1% in May 2019). Economists had expected a 0.2% decrease/
Energy prices, the development of which had the greatest impact on the growth of the overall index, rose by 2.2% (-1.4% compared to May 2019). On an annual basis electricity prices increased by 7.4% whereas prices of natural gas (distribution) decreased by 0.6% and prices of petroleum products by 2.0%. The overall index disregarding energy was 0.9% up on June 2018 and unchanged compared to May 2019.
Prices of non-durable consumer goods increased by 2.1% compared to June 2018 (+0.5% on May 2019). Food prices were up 2.6%. Prices of capital goods increased by 1.5%, prices of durable consumer goods were up 1.4%. Prices of intermediate goods decreased by 0.2% compared to June 2018 (-0.2% on May 2019).
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