BERLIN (Reuters) – German import prices rose the fastest in 40 years last month, driven by a jump in the price of oil and gas, and supply chain bottlenecks for raw materials worsened further, pointing to a further rise in prices for consumers.

The Federal Statistics Office reported Wednesday that import prices increased 16.5% from one year before. That was more than the 16.1% predicted by economists and an increase of 15.0% from July.

The august increase marked the highest since September 1981 when prices rose 17.4% due to the second oil crises.

According to the Statistics Office, August saw an increase of 93.6% in energy imports compared to the previous year. This was largely due in part, according the Statistics Office, to the strong rise of the price of.

Many raw materials saw steep rises in their prices. Prices for iron ore rose by 96.8% in August. Sawn and planted wood prices increased 61.6%. Basic iron, steel, and ferroalloys saw a 57.7% increase.

A survey by Ifo Institute published Wednesday revealed that supply chain problems in German businesses have worsened.

German industry firms reported difficulty procuring raw materials and intermediates this month at 77.4%. According to Ifo, this figure stood at 97% for car manufacturers.

Klaus Wohlrabe from Ifo stated that although there were many orders for cars, companies are unable to produce them at the moment. Ifo reported that companies now plan to increase their prices.

The flash inflation statistics for Germany, which are due Thursday, will reveal the increase in consumer prices. These figures have been harmonised so that they can be compared with other inflation data from European Union countries.