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Germany's Wholesale Price Inflation Slows In May

Germany's wholesale price inflation slowed in May after accelerating in April, figures from Destatis showed Friday.

Wholesale prices advanced 1.6 percent year-on-year in May, slower than the April's 2.1 percent increase.

The annual growth was largely driven by mineral oil products prices, which gained 5.2 percent. Cost of fruits, vegetables and potatoes climbed 5.3 percent and that of cereals, raw tobacco and animal feeds by 7.2 percent.

At the same time, monthly increase in wholesale prices halved to 0.3 percent from 0.6 percent.

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