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German Producer Prices Rose at a Record Pace in December

Adel 20 January, 2022 4:59 pm Market Update

German producer prices rose at a record pace in December amid increased energy prices.

According to data from the Federal Statistics Authority released today, Thursday, producer prices in the country with the largest European economy increased by 24.2% in December on an annual basis, the highest level since the start of the census in 1949, and after rising 19.2% in November.

Analysts polled by Reuters had forecast that producer prices in Germany would rise 19.4%.

On a monthly basis, producer prices increased by 5% in December, compared to an increase of about 0.8% in the previous November.

Energy prices jumped 69% year-on-year last month. Excluding this item, producer prices in Germany posted a 10.4% increase.

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