Germany's wholesale price inflation eased in May largely due to the reduction in the energy tax on mineral oil products, data from Destatis showed Monday.
Wholesale prices increased 5.9 percent year-on-year in May after rising 6.3 percent in April.
Destatis said the war in the Middle East pushed up wholesale prices of energy products and raw materials, in particular. Mineral oil products prices surged 30.5 percent from the last year. But prices dropped 7.3 percent from April due to the reduced energy tax rate.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.