BERLIN (dpa-AFX) - Germany's producer price inflation eased to a four-month low in May, figures from Destatis revealed Tuesday.
Producer prices advanced 2.8 percent year-on-year in May, slower than the 3.4 percent growth seen in April and the 2.9 percent increase economists had forecast. The 2.8 percent was the weakest growth since January.
Month-on-month, producer prices fell 0.2 percent, reversing a 0.4 percent rise in April. This was the first fall in eight months. Economists had forecast a marginal 0.1 percent fall.
Excluding energy, producer prices advanced 2.7 percent from previous year and edged up 0.1 percent from April.
Energy prices rose 3 percent though the development of prices of the different energy carriers diverged. Prices of intermediate goods climbed 3.7 percent and that of non-durable consumer goods by 3.5 percent.
Prices of durable consumer goods and prices of capital goods increased each by 1.1 percent.
Copyright RTT News/dpa-AFX