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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY MAY PPI -1.4% M/M (FCST -0.7%); APR +0.3% M/M
GERMANY MAY PPI +1.0% Y/Y (FCST +1.7%); APR +4.1% Y/Y
- German factory-gate inflation slowed further in May, with prices declining by -1.4% m/m, implying seven deflationary m/m prints over the last eight months.
- PPI cooled by 3.1pp to +1.0% y/y, the lowest since pre-pandemic January 2021 (+0.9% y/y).
- Both headline prints were 0.7pp lower than anticipated.
- Intermediate goods declined -2.3% y/y and assisted by falling metal and raw material prices, whilst energy fell -3.3% y/y.
- The index excluding energy declined -0.4% m/m and slowed 1.6pp to +3.2% y/y, signalling a slower, albeit broad-based reduction in price pressures.
- Easing energy prices alongside a reduction in demand and supply-chain issues as flagged in recent PMI data underpins the current downwards trajectory of PPI.
- This data implies a decline in goods inflation to continue across the broader economy.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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