German producer prices post record jump in August
2022.09.20 02:34
© Reuters. FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe’s largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020, as the spread of the coronavirus disease (COVID-19) continues.
BERLIN (Reuters) – German producer prices rose in August at their strongest rate since records began both in annual and monthly terms, with soaring energy prices continuing to act as a main driver, according to data released on Tuesday.
Producer prices of industrial products increased by 45.8% on the same month last year, the Federal Statistical Office reported. Compared to July 2022, prices rose 7.9%, it added.
Energy prices on average were over double the same period last year, up 139%, and 20.4% higher than the previous month, the office reported.
