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German Wholesale Prices Fall For First Time In Nearly 3 Years

Germany's wholesale prices eased in July for the first time in nearly three years, data from Destatis showed on Tuesday.

Wholesale prices declined 0.1 percent year-on-year in July, following a 0.3 percent rise in June.

The latest fall was the first since September 2016, when prices decreased 0.6 percent.

The decline in July was led by a 3.1 percent fall in prices of petroleum products.

Prices of scrap and residual materials decreased by 9.5 percent and those of equipment, peripherals and software prices fell by 5.7 percent.

On a monthly basis, wholesale prices fell 0.3 percent in July, after a 0.5 percent decline in the previous month.

Prices dropped on a monthly basis for the second consecutive month.

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