2017 Economic Calendar
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Germany : PPI  
Released On 6/20/2017 2:00:00 AM For May, 2017
Month over Month0.4 %-0.1 %-0.2 %
Year over Year3.4 %2.9 %2.8 %

Producer prices fell in May for the first time since last September. A 0.2 percent monthly drop was slightly sharper than expected and steep enough to reduce the annual PPI inflation rate from 3.4 percent to 2.8 percent, its first decrease since March 2016.

Inevitably, the monthly headline decline was led by energy where prices were off 0.8 percent. Excluding this, the PPI actually rose 0.1 percent versus April and was 2.7 percent higher on the year, just a tick short of its annual post last time. Elsewhere, basics were down a monthly 0.1 percent but consumer goods climbed 0.3 percent (non-durables 0.4 percent) and capital goods were 0.1 percent firmer.

Despite May's setback, the trend in overall producer prices remains up and, more significantly, the underlying PPI continues to make steady ground. Various areas of German industry have been reporting capacity issues for some time now and today's pipeline inflation update suggests that pressure on consumer prices from this quarter will continue to build over coming months.

The Producer Price Index (PPI) measures the price of industrial and commercial goods produced and sold domestically (excluding turnover tax). About 1,250 types of goods are used to calculate the index and prices are reported by a total of 5,000 enterprises under fixed contractual conditions. Changes in the index provide a guide to inflation from the point of view of the product's producer/manufacturer and, in contrast to the consumer price index (CPI), excludes VAT and other deductible taxed associated with turnover.  Why Investors Care

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