By Gokhan Ergocun
ISTANBUL (AA) - Germany's wholesale prices decreased by 0.7% on a yearly basis in May, according to the federal statistical authority on Thursday.
Destatis recalled that prices were down by 1.8% in April and 2.6% in March.
Lower prices for chemical products (minus 13.9%) were the main reason for the year-on-year decrease in wholesale prices.
"Lower year-on-year wholesale prices were also recorded in particular for iron, steel and ferrous semi-finished metal products (-12.1%)," Destatis added.
On a monthly basis, prices slightly went up by 0.1% in May.