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)