The number of German companies planning to increase their prices declined in June as expectations of peace in the Middle East drove down energy prices, the ifo Institute said Tuesday.
Month over month, the ifo price expectations indicator decreased to 26.4 points from 30 points in May, even as producer and consumer prices are anticipated to keep climbing in the coming months. The indicator monitors the percentage of companies that plan to hike prices on balance.
On a sector basis, price pressures notably eased in energy-intensive companies, a trend mirrored to a lesser degree by non-energy-intensive companies. Meanwhile, food retail also experienced a pullback, though pressure "remains high."