German Wholesale Price Inflation Weakens In March

(RTTNews) - Germany's wholesale price inflation weakened in March after accelerating last month, data from Destatis showed on Tuesday.

Wholesale prices grew 1.3 percent year-on-year in March, following an increase of 1.6 percent in February.

The main reason for the annual increase in wholesale prices were food, beverages and tobacco, non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products. Prices for food, beverages and tobacco increased 4.4 percent from the previous year.

Meanwhile, lower annual wholesale prices were recorded for computers and peripheral equipments, iron, steel and ferrous semi-finished metal products and live animals.

On a monthly basis, wholesale prices dropped for the first time in six months in March. Prices were down 0.2 percent, in contrast to the 0.6 percent increase in February.