German PPI rose 0.1% mom, 1.1% yoy in July, above expectation of 0.0% mom, 1.0% yoy. 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). 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).
