Germany’s wholesale prices fall the least since August 2023

Wholesale prices in Germany have decreased at an annualized rate of 1.8% in April, data by the Federal Statistical Office showed on Tuesday.

The latter has been a slowdown from a 2.6% drop in March.

April marked the 12th consecutive month of decreasing producer prices and also the slowest drop since August 2023.

Last month, decreases in prices were observed for chemical products (-17.9% YoY), grain, unmanufactured tobacco, seeds and animal feeds (-12.2% YoY), metals and metal ores (-7.2%), waste and scrap (-6.8%) as well as for milk, milk products, eggs, edible fats and oils (-6.3%).

At the same time, prices went up for coffee, tea, cocoa and spices (9.3% YoY), sugar, confectionery and bakery products (7.2% YoY) and tobacco products (5% YoY).

In monthly terms, wholesale prices in the country went up 0.4% in April, after a 0.2% rise in March.

The Euro was last 0.10% firmer on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0868.

The major Forex pair has eased from a two-week high of 1.0889, which it registered earlier in the session.