• German producer prices rise year-on-year in April

    Source: FxWire Pro - Commentary / 20 May 2018 10:37:51   America/New_York

    German producer prices for industrial products rose in April. On a year-on-year basis, producer prices rose 2 percent, showed German official statistical office, Destatis. In March the annual rate of change all over had been 1.9 percent, as reported by the Federal Statistical Office.

    On a sequential basis, the overall index rose 0.5 percent in April, as compared with the 0.1 percent in March and the fall of 0.1 percent in February.

    The price indices in April of all main industrial groups rose on a year-on-year basis. Energy prices rose 3.2 percent, though the development of prices of the different energy carriers diverged. Prices of electricity rose 6.1 percent, whereas prices of petroleum products rose 3.3 percent and prices of natural gas rose 0.4 percent.

    Prices of intermediate goods rose 2.1 percent. Prices of non-durable consumer goods rose 1.1 percent and of durable consumer goods by 1.5 percent, whereas prices of capital goods rose 1.2 percent. The overall index disregarding energy rose 1.6 percent year-on-year.

    At 18:00 GMT the FxWirePro's Hourly Strength Index of Euro was bearish at -90.4626, while the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 160.332. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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