German producer prices up 10.4% in July
Producer prices in Germany increased by 10.4% year-on-year in July, the country’s statistical office Destatis reported on Friday. The index was 1.9% up in comparison to June.
Energy prices jumped 20.4% on a yearly basis and advanced 4.1% from the prior month. Prices of intermediate goods rose by 15.6% from July 2020 and by 2.3% from June 2021, while the prices of capital goods increased by 1.8% on an annual basis and by 0.5% month-on-month.
Prices of durable consumer goods were 2.2% and 0.6% higher compared to July 2020 and June 2021, respectively. Non-durable consumer goods’ prices grew 1.8% year-over-year but remained unchanged in comparison to the previous month.
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