Germany's whole sale prices increased modestly in June after falling for two months in a row, latest data from the Federal Statistical Office showed Thursday.
The wholesale price index increased 0.7 percent on an annual basis in June, reversing decreases of 0.1 percent and 0.4 percent recorded in May and April. Economists were looking for an increase of 1 percent.
The rebound was mainly driven by a 14.7 percent rise in wholesale prices of fruit, vegetables and potatoes. An 8.8 percent growth in prices of milk, egg and edible oil and fats as well as a 2.7 percent rise in meat and meat products also influenced the index positively.
These increases were partially offset by a 2.2 percent fall in prices of gaseous fuels and related products, and a 4.6 percent decrease in metal and metal ore prices, data showed.
On a monthly basis, wholesale prices declined 0.4 percent in June, as they did in the previous month. The index was forecast to drop 0.1 percent month-on-month.
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