German wholesale prices continue downward trend in August
2023.09.12 04:25
© Reuters. FILE PHOTO: A pack of sausages is pictured next to a price tag, with a reference to the Europe-wide “true costs” campaign week by the discount supermarket Penny, in which nine selected products are given the calculated “real price” as the sales price, und
BERLIN (Reuters) – German wholesale prices fell for the fifth month in a row in August due to lower prices for mineral oil products, data from the federal statistics office showed on Tuesday.
Wholesale prices declined by 2.7% in August compared to the same month last year, according to the data.
Easing price pressures in wholesale trade point to lower inflation rates in Germany in the coming months. Wholesalers are the link between manufacturers and consumers and price reductions usually reach consumers with a delay.
Germany’s headline inflation rate fell to 6.4% in August.
Month on month, wholesale prices were up 0.2%, the data showed.
