Economic Buzz: German PPI Spikes Around 46% In September

20 Oct 2022 , 01:30 PM

German producer prices rose by 2.3% on the month and by a massive 45.8% on the year, statistics office Destatis said on Thursday. Excluding energy prices, the annual rate of inflation has now been in decline for four months, and hit 14% in September. Nitrate fertilizer prices have tripled over the last year, while food items such as butter and coffee rose by 72% and 32%, respectively. Destatis noted that energy prices, up 132% on the year. Producer inflation posted another all-time high since data began being collected in 1949 after the same rate was recorded in August, Destatis noted. Powered by Commodity Insights