Economic Buzz: German Producer Prices Rise At Fastest Pace In 7-Months In May

Germany producer prices climbed 2.7 percent year-on-year in May, faster than the 2 percent increase in April, figures from Destatis showed Wednesday. A similar faster growth was last seen in October. Prices were forecast to climb 2.5 percent. Excluding energy, producer prices climbed 1.7 percent from the previous year and by 0.2 percent from April. On a monthly basis, overall producer prices gained 0.5 percent for the second straight month and this was the third consecutive rise in prices.