Forex News

German producer price inflation peaked from 2017

German producer manufacturing prices rose at the fastest pace in 18 months in October, according to data from the Federal Statistical Office on Tuesday.

Producer prices rose 3.3 percent over the same period last year, after increasing 3.2 percent in September. This is in line with the expectations of economists.

Growth rates were the fastest since April 2017, when producer prices rose at the same pace. Higher growth rates were last observed in December 2011, when inflation was 3.5 percent.

Energy prices increased by 9.4 percent, while energy costs rose 9.1 percent. Prices for intermediate goods increased by 2.3 percent, and for durable goods – by 1.7 percent. Capital goods recorded a rise in prices by 1.4 percent, while prices for durable goods rose by 0.2 percent.

Compared with the previous month, producer prices rose 0.3 percent after rising 0.5 percent in September. The result was in line with the expectations of economists.