The rise in producer prices in Germany slows to a minimum since 2021

MADRID, 20 Jun. (EUROPA PRESS) -

The German producer price index registered a 1% rise last May compared to the same month of the previous year, compared to the 4.1% increase observed in April, which represents the lowest increase since January 2021. according to data published this Tuesday by the Federal Statistical Office, Destatis.

The main factor in the increase in the index in the comparison with May 2022 was the rise in the price of capital goods (6.5%) and non-durable consumer goods (10.1%).

Specifically, food prices rose 11.9% year-on-year, including a 92% rise in the price of sugar, while processed and canned potatoes rose 41%, pork 22.4% and processed and canned fruits and vegetables 22.1%. Only a few foods were less expensive than in May 2022, including butter (-28.9%) and crude vegetable oils (-43.7%).

On the other hand, the price of durable consumer goods increased by 7.9% compared to May 2022, mainly driven by the evolution of the prices of furniture (8.8%) and household appliances (9.1 %), while intermediate goods became cheaper by 2.3% year-on-year.

Likewise, energy prices with respect to the same month of the previous year fell by 3.3%. The cost of energy increased substantially after the invasion of Ukraine in February 2022, but has decreased by 34.3% since September 2022.

Thus, the general index without energy increased by 3.2% compared to May 2022.