According to the report from Federal Statistical Office (Destatis), in July 2019 the index of producer prices for industrial products rose by 1.1% compared with the corresponding month of the preceding year. Economists had expected a 1.0% increase. In June 2019 the annual rate of change all over had been +1.2%. Compared with the preceding month June 2019 the overall index increased slightly by 0.1% in July 2019 (-0.4% in June 2019). 

The greatest impact on the growth of the overall index compared to July 2018 had the development of electricity prices. These were up 8.4% (+2.2% compared to June 2019). Energy prices as a whole rose by 2.1% (+0.7% compared to June 2019). On an annual basis prices of natural gas (distribution) decreased by 1.5% and prices of petroleum products by 2.0%. 

The overall index disregarding energy was 0.7% up on July 2018 and fell by 0.1% compared to June 2019.

Prices of non-durable consumer goods increased by 1.7% compared to July 2018 (-0.2% on June 2019). Food prices were up 2.2%.

Prices of capital goods increased by 1.5%, prices of durable consumer goods were up 1.3%.

Prices of intermediate goods decreased by 0.7% compared to July 2018 (-0.4% on June 2019). Prices decreased especially regarding electronic integrated circuits (-14%).