German Producer Price Inflation Highest Since 2023 On Energy Price Surge
Energy prices drove the increase, and analysts polled by Reuters had expected a smaller 6.2% rise.
- On Tuesday, Destatis, the federal statistics office, reported German producer prices rose 6.7% in September, the fastest pace in three and a half years, exceeding the 6.2% expected by Reuters analysts.
- Conflict in the Middle East drove energy prices up 14.9% annually, serving as the primary factor behind the surge affecting goods from food to industrial products.
- Intermediate goods prices rose 6.4%, while monthly producer costs increased 1.9%, representing an acceleration from the 4.6% recorded in August that reflects broader inflationary pressure.
- Alexander Krueger, chief economist at Bank Bethmann HAL, warned that significant upstream price pressure persists and expects the annual rate to rise toward 10%, likely pushing up consumer prices.
- This latest factory-gate inflation rate is the highest since March 2023, when prices rose 7.5 percent; producer prices measure costs before goods reach retailers and serve as an early indicator of future inflation.
12 Articles
12 Articles
German producers have increased their prices as much in September as they have not been for three and a half years.
German Producer Price Inflation Highest Since 2023 On Energy Price Surge
Germany's industrial producer prices rose at the fastest pace since early 2023 in September led by higher energy prices and a significant increase in prices of intermediate goods, preliminary data from the statistical office Destatis showed on Tuesday.
Producer prices in Germany jumped to a three-and-a-half-year high in September, driven primarily by soaring energy prices due to the conflict in the Middle East, the German Federal Statistical Office said on Tuesday.
German producer prices rise most in 3-1/2 years in September
Industrial producer prices in Germany rose 6.7 percent year-on-year in September, marking their sharpest increase in three and a half years. Significant increases in energy (14.9 percent), petroleum products (51.3 percent), and copper (31.4 percent) further intensified pressure on the industrial sector.
Coverage Details
Bias Distribution
- 80% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
