Germany's producer inflation at historical high level in August
WORLD ECONOMY

Germany's producer inflation at historical high level in August

Energy main reason for high inflation figures, Destatis says

News Service AA

Germany's producer prices increased by 45.8% year-on-year in August, hitting a historical high level.

According to Federal Statistical Office Destatis' data, the monthly producer inflation was also at a record level with 7.9% in August.

The office said energy was the main reason for high inflation in the country.

"Prices also rose significantly for intermediate goods ( 17.5%) and capital goods ( 7.8%) as well as for durable and non-durable consumer goods (10.9% and 16.9%, respectively)," it added.

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