German wholesale prices fall at softest pace in 8 months

By Tuba Ongun

Wholesale prices in Germany fell at the softest pace in 8 months, down 1.8% in April from a year earlier, according to data released on Tuesday.

The figure eased from a revised 2.6% decline in March and marked the 12th straight month of decrease, data from the statistical office Destatis showed.

April's downturn was mainly led by a 17.9% year-on-year fall in prices of chemical products, it said.

Prices went down for grain, unmanufactured tobacco, seeds, and animal feeds by 12.2%, metals and metal ores by 7.2%, waste, and scrap by 6.8%, and milk, milk products, eggs, edible fats and oils by 6.3%.

On a monthly basis, wholesale prices rose 0.4% in April, following a 0.2% hike in the previous month.