Germany's wholesale prices continued their decline in July, though the rate of decrease was minimal, according to data released by Destatis on Monday.
The annual decline in wholesale prices was recorded at 0.1 percent, following a 0.6 percent drop in June. This marks the third consecutive month of falling wholesale prices since May 2023, with July's decline representing the slowest rate in this period.
The year-on-year decrease was significantly influenced by an 8.4 percent reduction in chemical product prices and a 7.7 percent drop in prices for iron, steel, and semi-finished products.
On a month-to-month basis, wholesale prices rose by 0.3 percent, effectively counterbalancing the 0.3 percent decrease seen in June. Economists had predicted a 0.2 percent increase for July.
