Economic Buzz: German producer prices up 3% in July

Producer prices in Germany rose by 3% in July compared to the same month in the previous year, the country's statistical office Destatis revealed in its report on Thursday. The figure increased by 1.1% compared to June.

The annual rise in producer prices in the reported month was mainly attributed to an increase in intermediate goods, which climbed by 5.4% year-on-year, followed by energy prices, which advanced by 3.8% compared to July 2026. Capital goods and durable goods grew by 2.3% and 2%, respectively, on an annual basis, while consumer goods declined by 2.3%.

Within the energy sector, energy prices climbed 3.8% annually and 3.4% month-to-month, as the main driver of higher prices was the increase in petroleum product prices, which jumped by 31.4% compared to the same period in the previous year due to the conflict in Iran and the Middle East. In addition, the prices of natural gas increased by 1.6% and electricity fell 1.6%, year over year.

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