BERLIN (dpa-AFX) - Germany's wholesale price inflation softened in May, data from Destatis revealed Friday.
Wholesale selling prices logged an annual growth of 0.4 percent, slower than April's 0.8 percent gain. Nonetheless, this was the sixth consecutive increase.
On a monthly basis, wholesale prices slid at a faster pace of 0.3 percent after easing 0.1 percent in April.
The annual increase in wholesale prices was largely driven by the 4.3 percent increase in food, beverages and tobacco prices. Meanwhile, wholesale prices of solid fuel and mineral oil products dropped 8.5 percent.
Lower prices were also reported in the wholesale of computers and peripheral equipment, and iron, steel and ferrous semi-finished metal products.
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