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Economy in Brief

German PPI Steadies at Above 2% PaceĀ 
by Robert Brusca August 17, 2007

Trends in German producer prices are partly favorable.

Excluding energy, manufacturing PPI trends are sideways. The year-over-year rate has showed a slight downtrend while the six-month rate has popped up and the 3-month rate has dropped from its month-ago pop-up. The three-month trend is unclear as despite its drop-off in the month it may still be in an uptrend that dates back to March. Prices of German manufacturing and mfg excluding energy show different forces are acting on them. As energy prices have ebbed overall German PPI inflation is dropping and has slowed to a 1.1% pace year/year. But the year/year pace for the Excl Energy Manufacturing PPI inflation rate is at 2.5% and is barely beginning to edge lower. With the ECB inflation ceiling for its HICP at 2% the PPI is not helping and the trend does not show the promise of much help to come, at least for nonenergy prices.

Germany PPI
  M/M % Changes %-SAAR
  Jul-07 Jun-07 May-07 3-mo 6-mo 12-mo 12-moY-Ago
MFG -0.1% 0.3% 0.3% 2.0% 1.9% 1.1% 6.0%
Ex Energy 0.1% 0.4% 0.2% 2.6% 2.6% 2.5% 3.0%
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