MNI: GERMAN DATA: PPI (Apr 2019) Preview - 07:00.....>

MNI: GERMAN DATA: PPI (Apr 2019) Preview - 07:00 BST

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- Bloomberg Consensus: 0.3% m/m, 2.4% y/y; MNI Median: 0.2% m/m, 2.3% y/y

- Previous (Mar): -0.1% m/m, 2.4% y/y

- Annual PPI inflation is expected to hold steady after cooling to 2.4% in Mar

from 2.6% in Feb

- On the month, prices of intermediate (+ 0.2%), capital (+0.1%) & durable

(+0.1%) goods increased, while consumer goods prices remained unchanged in Mar

- The m/m decline in headline PPI was thus driven by lower energy prices (-0.9%)

- On a y/y basis, energy price inflation stood at 6.6% (down from 7.5% in Feb);

excluding energy, PPI inflation was just 1.2%

- While oil prices have strengthened recently, annual energy inflation should

moderate further in the coming months on negative base effects...

- ... thus weighing further on the headline PPI rate

- Germany's Apr manufacturing PMI survey revealed that purchase price inflation

in Apr was only fractionally higher than March's 32-month low