German July Wholesale Prices Decline Further

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Germany's wholesale price index or WPI dropped 10.6% year-over-year in July, compared with a 8.8% decline in the previous month, the Federal Statistical Office said Tuesday. This was the highest price decline since the beginning of the index calculation in 1968. Economists were looking for a decline of 9.7%.

On a monthly basis, wholesale prices fell 0.5% in July, in contrast to the 0.9% increase in the preceding month. Economists had expected an increase of 0.3%.

Germany's wholesale price index or WPI dropped 10.6% year-over-year in July, compared with a 8.8% decline in the previous month, the Federal Statistical Office said Tuesday. This was the highest price decline since the beginning of the index calculation in 1968. Economists were looking for a decline of 9.7%. (Market News Provided by RTTNews)