Wholesale price inflation in Germany eased in October to reach its lowest level in eight months, data from Destatis showed.
Wholesale prices climbed 17.4% year-on-year in October, slower than the 19.9% spike in September. Moreover, this was the slowest rate of increase since February, when prices rose 16.6%.
The overall inflation in October was largely attributed to increased prices for raw materials and intermediate products, the agency said.
Compared to last year, a 41.5% jump in the prices of petroleum products impacted the rate of change the most. Prices for solid fuel surged 99.1% annually in October, and those for live animals rose 52.2%.
On a monthly basis, wholesale prices dropped 0.6% from September, when they increased by 0.6%.
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