Economic Buzz: Germany Producer Price Inflation Eases In October

21 Nov 2022 , 03:11 PM

Germanys producer price inflation eased more-than-expected in October to reach its lowest level in four months, data from Destatis showed. Producer prices climbed 34.5 percent year-over-year in October, slower than the 45.8 percent surge in September. The overall strong inflation in October was largely caused by an 85.6 percent jump in energy prices amid higher costs for natural gas and electricity. Excluding energy, producer prices rose 13.7 percent yearly and by 0.4 percent monthly in October. Among other components of the producer price index, prices of intermediate goods increased 15.9 percent and those for capital goods grew 7.8 percent. Among other components of the producer price index, prices of intermediate goods increased 15.9 percent and those for capital goods grew 7.8 percent. On a monthly basis, producer prices decreased 4.2 percent in October, reversing a 2.3 percent rise in September. Prices fell for the first time since May 2020.Powered by Commodity Insights