GERMAN DATA
German April producer prices came in slightly softer than expected at -3.3% Y/Y (vs -3.1% cons; -2.9% prior) and +0.2% M/M (vs +0.3% cons; +0.2% prior).
- Looking at the individual categories, energy moved further into in deflationary territory at -8.2% Y/Y (vs -7.0% prior) after three consecutive prints that had seen the category becoming less deflationary.
- Elsewhere, the durable, non-durable, and consumption goods categories all saw their respective yearly rates unchanged, coming in at +1.0% Y/Y, +0.3%, and +0.4%, respectively.
- Inflation in investment goods (the main category with the highest yearly rate for a while) decelerated in April and printed at +2.4% Y/Y (vs +2.8% prior).
- Intermediate goods was the only category with firmer inflationary pressures vs March on a yearly comparison at -3.1% (vs -3.7% prior).
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