German Producer Prices Fall 1.5%

Germany's producer prices declined for the fifth straight month in July amid cheaper energy prices, data from Destatis showed on Wednesday.

The producer price index dropped 1.5 percent year-on-year in July, faster than the 1.3 percent fall in June.

Energy prices alone logged an annual decline of 6.8 percent in July. Intermediate goods were also less expensive, down 0.9 percent from the previous year.

On the other hand, consumer goods were 3.5 percent more expensive. Prices for capital and durable goods climbed 1.8 percent and 1.9 percent, respectively.

Excluding energy prices, producer prices were 1.0 percent higher than in the same period last year.

Month-on-month, producer prices dropped 0.1 percent in July.

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