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German producer prices jump by record 25.9% -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: ThyssenKrupp AG’s steel worker collects a sample from Duisburg’s blast furnace. It is Germany’s largest and most important steel manufacturer. January 28, 2019. REUTERS/Wolfgang Rattay

BERLIN, (Reuters) – German producer prices rose 25.9% in February due to energy prices. Federal Statistics Office data on Monday showed that.

According to the statistics office, the jump in factory gate cost, which is a key indicator of consumer prices, was its largest since 1949.

These February numbers continue a streak of record-breaking increases in office figures since they began to compile them. They topped December’s 24.2% figures and January’s 25% figures, respectively.

Surveyed analysts by Reuters expected an average annual growth of 26.2%.

In February, producer prices didn’t take into consideration the impact of Russia’s attack against Ukraine.

Also, producer prices saw an increase of 1.4% over the month before.

The statistics office reported that energy prices increased 68% since February 2021. Producer prices increased 12.4% annually, excluding energy prices.

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