Germany’s wholesale prices dips 0.1% in July 

Germany recorded a 0.1 per cent decrease in wholesale prices in July 2024, compared to the same month in 2023, according to data released on Monday.

This follows a decline of 0.6 per cent in June and 0.7 per cent in May 2024. However, wholesale prices rose by 0.3 per cent from June to July 2024.

The annual decline was driven by lower prices for chemical products, which fell by 8.4 per cent from July 2023 and by a 0.4 per cent drop from June 2024.

Conversely, prices increased for coffee, tea, cocoa, and spices (19.5 per cent), non-ferrous ores and metals (15.4 per cent), waste and scrap (15.2 per cent), sugar and confectionery (+9.5 per cent), and tobacco products (4.7 per cent) compared to July 2023.

Attribution: The Federal Statistical Office (Destatis)

Sub-Editing: Y.Yasser