Germany producer price inflation rose to a fresh record high in May driven by energy prices, data from Destatis showed.
Producer prices logged a double-digit growth of 33.6% year-on-year in May, following April's 33.5% increase. The rate was forecast to grow again by 33.5%.
On a monthly basis, producer prices gained 1.6% after rising 2.8% in April. Economists had forecast prices to climb 1.5%.
Energy prices as a whole surged 87.1% from the previous year. Excluding energy, producer prices advanced 16.5%.
Among other components of the producer price index, prices of intermediate goods increased by 25.1%.
Prices of non-durable consumer goods grew 14.7% and that of durable consumer goods by 9.4%.
Capital goods' prices rose by 7.1%, the highest year-on-year change since September 1975.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
