Mubasher: Germany’s producer price index (PPI) for industrial products climbed 2.7% year-on-year in May, compared to the annual rate of 2% in the previous month, according to official data released on Wednesday.

Compared with the preceding month, PPI went up 0.5% in the fifth month of 2018, the Federal Statistical Office (Destatis) reported.

In the same vein, the price gauges for all main industrial segments have logged year-on-year increases in May.

Energy prices went up 5.5% in May, despite the diverged change in the prices of different energy carriers, Destatis said, adding that petroleum products surged 12.5% during the month.

Prices for intermediate goods rose 2.6% in the fifth month of the year, while the non-durable consumer goods increased 1.6%.

The overall index less energy was up 1.7% on a yearly basis, with a month-on-month increase of 0.2%.

By 11:04 am GMT, the EUR/USD pair shed 0.27% to $1.1559