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Germany: Record rise in producer prices in August


Germany: Record rise in producer prices in August |  Photo credits: Emanuele / CC BY-SA 2.0

Germany: Record rise in producer prices in August | Photo credits: Emanuele / CC BY-SA 2.0

BERLIN, Sept 20 (Reuters) – Producer prices in Germany recorded an unprecedented year-on-month rise in August, with soaring energy prices still the main driver, data show. official statistics released on Tuesday.

The producer price index for industrial goods increased by 45.8% compared to August 2021, said Destatis, the federal statistics institute. Over one month, it shows an increase of 7.9%.

Analysts polled by Reuters on average expected a 37.1% year-on-year increase and just 1.6% month-on-month.

Energy prices have jumped 139% in one year and 20.4% compared to July, says Destatis.

Excluding energy, producer price inflation remained at 14% in August.

(Report Rachel More, French version Marc Angrand, edited by Kate Entringer)





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