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Germany: Record rise in producer prices in August


(CercleFinance.com) – Producer prices in Germany rose 7.9% in August to post a jump of 45.8% over the past 12 months, Destatis, the federal statistics office, announced on Tuesday.

These are, in both cases, historical highs since the creation of the statistics.

By way of comparison, economists were forecasting an increase of just 1.3% from one month to the next, knowing that producer prices had increased by 5.3% on a month in July and by 37.2% on a year.

The surge in these prices is mainly due to soaring energy costs, especially electricity, which have more than doubled year-on-year

Excluding energy, the increase reached 0.4% monthly and 14% annually.

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