Germany’s PPI fell -0.5% MoM in August 2025 and declined -2.2% YoY, extending the annual drop from -1.5% in July and reflecting continued weakness in energy and intermediate goods prices.

• Energy prices fell -8.5% YoY and -1.0% MoM, with natural gas (-11.0% YoY), electricity (-10.8% YoY), and mineral oil products (-7.3% YoY) driving the decline.

• Heating oil was down -7.5% YoY (-5.9% MoM), while motor fuel prices fell -2.5% YoY (-1.9% MoM).

• Intermediate goods prices dropped -1.0% YoY (-0.4% MoM), led by basic chemicals (-2.2% YoY), prepared feeds (-2.4% YoY), and basic metals (-6.4% YoY).

• Capital goods prices rose +1.8% YoY (+0.1% MoM), with machinery up +1.8% YoY and motor vehicles up +0.9% YoY.

• Non-durable consumer goods gained +3.3% YoY, though edged down -0.1% MoM; food was +4.1% YoY, with coffee (+33.1% YoY) and beef (+36.6% YoY) seeing large increases.

• Durable consumer goods rose +1.7% YoY (flat MoM), showing steady upward price momentum.

• Excluding energy, PPI rose +0.8% YoY but still slipped -0.2% MoM, underscoring that annual weakness remains concentrated in energy categories.

Germany’s PPI fell -0.1% MoM in July 2025 and was down -1.5% YoY, deepening from the -1.3% YoY decline in June as energy and intermediate goods continued to weigh on prices.

• Energy prices were -6.8% YoY (+0.1% MoM), with natural gas down -8.6% YoY and electricity down -7.8% YoY, reflecting persistent softness in energy costs.

• Intermediate goods prices fell -0.9% YoY and -0.3% MoM, led by declines in basic chemicals (-2.6% YoY) and metals (-2.2% YoY).

• By contrast, non-durable consumer goods rose +3.5% YoY (-0.2% MoM), driven by strong increases in food prices (+4.1% YoY), particularly coffee (+38.4% YoY) and beef (+38.0% YoY).

• Capital goods and durable consumer goods rose 1.8% YoY and 1.9% YoY, respectively, indicating ongoing pricing strength in machinery and manufactured goods.

• Excluding energy, PPI increased +1.0% YoY but declined -0.2% MoM, suggesting that most of the annual weakness is still concentrated in energy-related categories.

Germany’s PPI rose 0.1% MoM (vs 0.0% MoM expected) in June 2025 but declined -1.3% YoY, marking a slightly deeper annual drop than May’s -1.2% YoY, mainly due to lower energy and intermediate goods prices.

• Excluding energy, PPI rose 0.1% MoM and 1.3% YoY.
• Energy prices fell -6.4% YoY (+0.3% MoM), driven by electricity (-8.8% YoY), natural gas (-6.9% YoY), and mineral oil products (-7.7% YoY).
• Non-durable consumer goods rose 0.4% MoM and 3.6% YoY; food prices rose 0.6% MoM and 4.4% YoY, led by coffee (+41.2% YoY), beef (+37.5% YoY), and butter (+18.2% YoY).
• Capital goods prices were flat MoM and up 1.7% YoY; durable consumer goods rose 0.2% MoM and 1.7% YoY.
• Intermediate goods fell -0.2% MoM and -0.4% YoY, with basic chemicals (-2.6% YoY), metals (-1.6% YoY), and steel (-6.2% YoY) leading the declines.

Germany’s PPI fell -0.2% MoM (vs -0.3% MoM expected) and -1.2% YoY in May 2025, marking a deeper annual decline than April’s -0.9% YoY, driven mainly by lower energy and intermediate goods prices.

• Excluding energy, PPI was flat MoM and rose 1.3% YoY.
• Energy prices fell -0.9% MoM and -6.7% YoY, led by electricity (-8.1% YoY), natural gas (-7.1% YoY), and mineral oil products (-9.6% YoY).
• Non-durable consumer goods rose 0.5% MoM and 3.6% YoY, with sharp annual increases in coffee (+41.2%), beef (+35.7%), and butter (+21.6%).
• Capital goods prices increased 0.1% MoM and 1.9% YoY; durable goods rose 0.2% MoM and 1.6% YoY.
• Intermediate goods declined -0.2% MoM and -0.2% YoY, with notable drops in metals (-1.3% YoY) and basic chemicals (-2.4% YoY).