According to the report from the Federal Statistical Office (Destatis), in August 2019 the index of producer prices for industrial products rose by 0.3% compared with the corresponding month of the preceding year. Economists had expected a 0.6% increase. In July 2019 the annual rate of change all over had been +1.1%.

Compared with the preceding month July 2019 the overall index decreased by 0.5% in August 2019 (+0.1% in July 2019).

The greatest impact on the growth of the overall index compared to August 2018 had the development of electricity prices. These were up 6.0% (-1.1% compared to July 2019). Energy prices as a whole decreased by 0.3% (-1.6% compared to July 2019). On an annual basis prices of natural gas (distribution) decreased by 5.0% and prices of petroleum products by 5.7%. 

The overall index disregarding energy was 0.6% up on August 2018 and remained unchanged compared to July 2019.

Prices of non-durable consumer goods increased by 1.7% compared to August 2018 (+0.1% on July 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 0.9% compared to August 2018 (-0.2% on July 2019). Prices decreased especially regarding electronic integrated circuits (-13.7%) and metallic secondary raw materials (-13.6%).