In Germany, producer price inflation remains at record levels. In September, producer prices rose by 45.8 percent year-on-year, the Federal Statistical Office announced in Wiesbaden. "Thus, the highest year-on-year increases in producer prices since the survey began in 1949 were measured in August and September," the press release said.
Energy prices continue to be the strongest driver of inflation. In September, energy prices were 132.2 percent higher than in the same month a year earlier, statisticians reported. In addition, partly as a result of the enormous price increases for energy, prices for intermediate goods, capital goods, and consumer durables and non-durables also rose significantly.
Month-on-month, the prices producers receive for their products also increased more than expected. The increase from August to September was 2.3 percent, while analysts had expected an increase of only 1.5 percent. In the previous month, however, the month-on-month increase had been much stronger, reaching a record 7.9 percent.
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