Germany Producer Prices Rise For Third Month

(RTTNews) - Germany's producer prices increased for the third straight month in June, data from Destatis showed Monday.

Producer prices grew at a pace of 1.8 percent on a yearly basis in June, slower than the 2.2 percent increase in May. This was the third consecutive rise in prices.

On a monthly basis, producer prices dropped 0.3 percent compared to economists' forecast of 0.2 percent fall.

The annual increase in producer prices was primarily driven by higher prices of intermediate goods and energy prices.

Prices of intermediate goods were up 5.1 percent and energy prices gained 0.4 percent. Capital goods were 2.1 percent more expensive in June than a year ago. Durable consumer goods prices moved up 1.8 percent. Meanwhile, non-durable consumer goods prices dropped 2.2 percent.