Germany wholesale prices fall 0.7% in June, annual rate eases

Germany's wholesale price index fell 0.7% in June from the prior month, a slightly steeper drop than the 0.6% decline seen in May. The annual rate of wholesale inflation slowed to 4.9% from 5.9%.

The monthly decline was driven by lower petroleum product prices, which fell 6.8%. Non-ferrous ores, metals and semi-finished metal products also dropped 2.7% month-on-month.

Despite the monthly retreat, both categories remain far above year-ago levels. Petroleum product prices were still 21.7% higher than June last year. Non-ferrous metal prices were up 31% over the same period.

The data adds to evidence that German wholesale inflation is cooling from earlier peaks tied to energy and raw-material price surges, though the year-on-year figures still reflect those earlier gains.