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German wholesale price drops 8.9%

Wholesale prices in Germany, the eurozone's largest economy, have fallen by 8.9% - the largest drop in over 22 years.

The German Federal Statistics Office has said that wholesale prices fell 8.9% in May from a year earlier, down from 8.1% in April. Month-on-month, prices rose 0.1%.

The euro exchange rate is now 0.8522 against the pound and 1.406599 against the US dollar.

Click here for the best euro exchange rate.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.

Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter

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