Germany's Producer Price Inflation At 3-Month High

germany's producer price inflation at 3-month high

Germany's producer prices increased at the fastest pace in three months in August, Destatis reported Wednesday.

Producer prices increased 2.6 percent year-on-year in August, faster than the 2.3 percent rise seen in July.

This was the fastest growth since May, when prices climbed 2.8 percent. Prices were forecast to gain 2.5 percent.

Month-on-month, producer prices moved up 0.2 percent, the same rate of increase as seen in July. Economists had forecast a 0.1 percent increase.

Prices of non-durable consumer goods climbed 3.6 percent and prices of intermediate goods advanced 3.3 percent.

At the same time, energy prices advanced 2.7 percent though the development of prices of the different energy carriers diverged. Prices of durable consumer goods and prices of capital goods increased each by 1.0 percent.

Excluding energy, producer prices rose 0.1 percent on month taking the annual growth to 2.6 percent.

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