Annual inflation in Germany accelerated to 45.8%

According to the German Federal Statistical Office Destatis, industrial producer prices jumped by 45.8% year-on-year in August after rising by 37.2% in July. On a monthly basis, prices rose by 7.9% after an increase of 5.3% in July. Analysts predicted indicators at the level of 37.1% and 1.6%, respectively.

Thus, the growth rate of indicators has become a record in the history of calculations started in 1949.

The main reason for the increase in producer prices (PPI index) is still the increase in energy prices. In addition, prices for intermediate goods increased significantly (+17.5%), as well as prices for capital goods (+7.8%), consumer goods of long-term and non-durable use (10.9% and 16.9%, respectively) .

It is noted that energy prices jumped by 139% in annual terms in August, and by 20.4% on a monthly basis. Natural gas prices increased by 209.4% year-on-year and by 24.6% month-on-month. Electricity has gone up by 175%.