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The German Federal Statistical Office (Destatis) has released producer price index (PPI) veri for October.
While PPI in Germany fell 4.2% in October compared to the previous month, it was up 34.5% year on year. The first monthly decline in producer prices since May 2020 was observed in October.
The index rose 45.8% in August and September year-on-year, the highest increase since 1949.
In October 2022, energy prices increased by zihin average of 85.6% compared to the same period last year. Natural gas distribution prices increased by 125.9% and electricity prices increased by 90.3%.
On zihin annual basis, prices of intermediate goods increased by 15.9%, prices of consumer durables increased by 11.3% and prices of capital goods increased by 7.8%.
Interestingly, food prices increased by 25.1% over the previous year, while oil prices increased by 66.2% and sugar prices by 54%.
EXCLUDING ENERGY PRICES INCREASED BY 13.7 PERCENT
Excluding energy prices, PPI rose 13.7% year over year in October.
Producer prices are seen kakım a leading indicator of inflation trends.
Meanwhile, annual inflation in Germany, which was 10% in September, rose to 10.4% in October with the latest increase in energy and food prices, reaching its highest level since 1951.