As reported by Germany's Federal Statistical Office (Destatis), in May this year the producer prices of industrial products in Germany fell by 0.3 percent compared to April this year and were up 0.2 percent compared to May 2012. According to Destatis, the weak year-on-year increase was due to drops in the prices of intermediate goods and energy, while prices for consumer goods indicated a rise.
Excluding energy, producer prices of industrial products in Germany decreased by 0.1 percent in May of the current year compared to April and rose by 0.4 percent compared to May 2012.
In May, intermediate goods in Germany were 0.9 percent cheaper on year-on-year basis, marking the second month of year-on-year decline, while intermediate good prices fell by 0.2 percent compared to April. German producers' prices for basic metals in May this year were lower by 5.1 percent year on year and were down 0.5 percent from April this year. In May, German producers' rolled steel prices fell by 6.4 percent while rebar prices in Germany were 8.3 percent lower, both compared to the same month of 2012.