According to the report from Federal Statistical Office (Destatis), in June 2020 the index of producer prices for industrial products decreased by 1.8% compared with the corresponding month of the preceding year. In May the annual rate of change all over had been –2.2%. Compared with the preceding month May the overall index remained unchanged in June 2020 (-0.4% in May).

Energy prices as a whole decreased by 6.2%. On an annual basis, prices of petroleum products were down 20.5%, prices of natural gas (distribution) decreased by 13.8%. However, prices of petroleum products increased by 5.5% compared to May 2020.

The overall index disregarding energy was 0.4% down on June 2019 and fell by 0.1% compared to May 2020.

Prices of intermediate goods decreased by 2.5% compared to June 2019. Prices decreased especially regarding basic iron, steel and ferro-alloys (-9.9%) and basic chemicals (-8.2%). Prices of cereal flour were down 3.0%. By contrast, prices of precious metals increased by 21.7% compared to June 2019. Prices of ready-mixed concrete rose by 4.9%.

Prices of non-durable consumer goods increased by 0.6% compared to June. Food prices were up 0.4% on June 2019. The price of sugar increased by 17.6%. Prices of meat and poultry meat products rose by 5.7% though the prices fell by 3.9% compared to May 2020. Butter prices were down 16.4% compared to June 2019.

Prices of capital goods increased by 1.2% compared to June 2019, durable consumer goods by 1.5%.