Germany’s wholesale prices continued to fall in November driven by weak petroleum product prices, figures released by Destatis revealed Monday.
Wholesale prices declined 1.7 percent year-on-year in November, but slower than the 1.9 percent decrease logged in October.
Wholesale prices of petroleum products plunged 18.1 percent on year. Meanwhile, wholesale prices of scrap and residues grew 7.5 percent and that of grain, raw tobacco, seeds and animal feed climbed 7.2 percent.
On a monthly basis, wholesale prices rose 0.1 percent, in contrast to a 0.2 percent drop seen in October. This was the first monthly increase in four months.
The material has been provided by InstaForex Company – www.instaforex.com