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