German producer prices pick up in May: statistics

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German producer prices, the cost of goods at the factory gate, gained 0.6 percent in June from May, a marked increase from the previous month, according to official data released on Tuesday.

On a 12-month basis, producer prices rose by 1.7 percent in June, the Destatis statistics office said, a sign of some inflationary pressure in the biggest European economy.

Analysts polled by Dow Jones Newswires had forecast a monthly increase of 0.2 percent and an annual rise of 1.2 percent.

In May, German producer prices had risen by 0.3 percent on the month and by 0.8 percent on the year.

© 2010 AFP

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