German Wholesale Price Inflation Rises In June

(RTTNews) - Germany's wholesale price inflation accelerated in June largely reflecting higher prices of food and beverages, data from Destatis showed on Friday.

Wholesale prices grew 0.9 percent on a yearly basis in June, following April's 0.4 percent increase. The increase in June was the fastest in three months.

Destatis said the main reason for the annual growth was higher prices of food, beverages and tobacco, with prices up 4.2 percent.

The wholesale selling prices of non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products also increased substantially. By contrast, wholesale of solid fuels and mineral oil products logged a notable decline. Month-on-month, wholesale prices gained 0.2 percent in June, partially offsetting the 0.3 percent fall a month ago.