Germany May wholesale price index -1.1% vs -0.4% m/m prior

• Prior -0.4%
• Wholesale price index -2.6% y/y
• Prior -0.5%

This marks a continued fall in wholesale prices in Germany, with the annual estimate now the softest since July 2020. A lot of this still has to do with energy prices in general, so there is that to consider when trying to read into the latest trend.