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Dow Jones Newswires: German annual producer prices climb 37.2%, highest increase on record

Germany’s producer prices rose strongly in July, driven by higher energy prices, posting the biggest increase ever recorded, the German statistics office Destatis said.

Producer prices rose 37.2% on year in July, the German statistics office Destatis said Friday. This follows a 32.7% increase in June and a 33.6% rise in May.

Compared with the preceding month, the producer prices index rose 5.3% in July, also the biggest month-on-month increase ever recorded.

Energy prices rose 105.0% from a year earlier, Destatis said. Strong gains in the price of natural gas, up 163.8% on year, as well as a 125.4% increase in the prices of electricity, were major factors behind the increase, it said.

The producer price index excluding energy rose 14.6% on year, according to Destatis.

Prices of intermediate goods increased 19.1% from a year earlier. Significant price increases were recorded by metals, which were 24.1% up on July, Destatis said.

Prices of nondurable consumer goods increased by 16.2% on year, prices of durable consumer goods rose 10.9% and capital-goods prices increased by 8.0%, Destatis’ data showed.

Write to Maria Martinez at

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