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German Wholesale Prices Drop Sharply in June

BERLIN, July 14 (Reuters) - German wholesale prices fell by 2.9% in June compared with the same month last year, the sharpest drop in three years, according to data released on Friday, in a sign that inflation in Europe's largest economy will continue to ease.

June's year-on-year decrease was the strongest since July 2020, when the outbreak of the coronavirus pandemic led to economic distortions, the federal statistics office said.

Compared with the previous month, wholesale prices were down 0.2%, the office said.

As wholesale price pressures fall, inflation in Germany could also continue to ease. Wholesalers are the link between manufacturers and end customers, and price changes usually reach consumers with a delay.

The office offers more detailed economic data on its website.

Reporting by Friederike Heine Editing by Miranda Murray

Source: Reuters

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