German wholesale prices fall marginally in July

BERLIN: Germany's wholesale prices continued to fall in July but the pace of decrease was marginal, data from Destatis, Federal Statistical Office of Germany, showed on Monday. German news agency dpa reported that wholesale prices posted an annual drop of 0.1 percent after easing 0.6 percent in June in Europe's largest economy. Wholesale prices have been falling since May 2023 and the latest decline was the slowest in the current sequence of decrease. The latest year-on-year decline was largely driven by the 8.4 percent fall in chemical product prices and 7.7 percent decrease in prices of iron, steel and semi-finished products. Month-on-month, wholesale prices gained 0.3 percent, offsetting June's 0.3 percent fall. Economists had forecast a monthly growth of 0.2 percent. Source : Emirates News Agency