Germany’s wholesale prices on decline in June

ISTANBUL

Germany’s wholesale prices declined 0.6% year-on-year in June, according to the country’s statistical bureau on Friday.

Destatis said the prices were down 0.7% in May and 1.8% in April.

The main cause of the annual decline in wholesale prices in June was the lower prices for chemical products (minus 10.9%).

“Lower year-on-year prices were also reported in the wholesale of iron, steel and ferrous semi-finished metal products (-9.7%), live animals (-5.5%) and computers and peripheral equipment (-5.4%),” Destatis added.

On a monthly basis, the nation’s wholesale prices were 0.3%.