BERLIN, September 20 (Archyde.com) – Producer prices in Germany recorded in August an unprecedented increase over one year as over one month, a movement of which soaring energy prices remain the main driver, show official statistics published 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 Archyde.com 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)
