6/18, 8:00 AM (Source: TeleTrader)
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German producer prices rise 7.2% in May

Producer prices in Germany surpassed the analysts' expectations and jumped 7.2% in May, compared to the same month a year before, the country's statistical office Destatis reported on Friday. In comparison to April, the index moved up by 1.5%.

Energy prices surged 14.9% on a yearly basis and increased by 2.6% from the prior month. Prices of intermediate goods soared 10.7% from May 2020 and advanced by 2.2% from April 2021, while the prices of capital goods went up by 1.2% on an annual basis and by 0.2% month-on-month.

Prices of durable consumer goods were 1.7% and 0.1% higher compared to May 2020 and April 2021, respectively. Non-durable consumer goods' prices moved up 0.5% year-over-year but remained unchanged compared to the previous month.

Breaking the News / BU