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BERLIN (Scrap Monster): The producer prices of industrial products in Germany advanced by 2.1% year-on-year in May and down slightly by 0.3% month-on-month, as per the latest data released by Germany's Federal Statistical Office (Destatis).

According to Destatis, the price increases for energy had the highest influence on the year-on-year change rate, as in previous months. Compared with the same month of the previous year, in May this year energy was more expensive by around 4.2%, but was down 0.9% month on month.

Without considering energy, the rise in producer prices was just 1.3% on year-on-year basis and remained unchanged compared to April.

In May, prices of intermediate goods increased by 0.6%, while rolled steel prices fell by 5.7%, both compared to the same month of 2011.