Producer prices down 1.5% in Germany in July

By Gokhan Ergocun

ISTANBUL (AA) - Producer prices in Germany dropped by 1.5% year-on-year in July, thanks to lower energy prices, official figures showed on Wednesday.

Energy prices went down 6.8% in July from the same month a year earlier, Federal Statistical Office (Destatis) said.

Intermediate goods were also less expensive than a year earlier, down 0.9%.

Meanwhile, price increases were recorded for non-durable consumer goods, durable consumer goods and capital goods.

Energy-excluded producer prices rose by 1% on a yearly basis.

On a monthly basis, producer prices also fell 0.1% in July.

Compared with June, energy prices rose by 0.1% in July.