Economic Buzz: German producer prices drop for fourth straight month

Germany's producer prices declined for the fourth straight month in June on lower energy prices, Destatis reported Friday.

The producer price index dropped 1.3 percent year-on-year in June, faster than the 1.2 percent fall in May. This was the fourth consecutive decrease.

Month-on-month, producer prices were up 0.1 percent in June.

Energy prices logged an annual fall of 6.4 percent in June. Intermediate goods were also less expensive, down 0.4 percent from the previous year.

By contrast, durable consumer goods, non-durable consumer goods and capital goods cost logged increases. Non-durable goods cost surged 3.6 percent and capital and durable goods prices climbed 1.7 percent each.

Excluding energy prices, producer prices were 1.3 percent higher than in the same period last year.

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