Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

German PPI Surges Again to New Record High in September

Published 20/10/2022, 07:32
Updated 20/10/2022, 07:32
© Reuters.

By Geoffrey Smith 

Investing.com -- Factory gate inflation in Europe's largest economy continued its record-breaking run in September, as companies again passed on sharp increases in their energy costs to buyers.

German producer prices rose by 2.3% on the month and by an eye-watering 45.8% on the year, statistics office Destatis said on Thursday.

The numbers show sustained inflationary pressure in the economic pipeline, and add to the pressure on the European Central Bank to keep raising interest rates despite the obvious slowdown in the Eurozone economy.

Destatis noted that energy prices - up 132% on the year - were by far the biggest contributor. Excluding energy prices, the annual rate of inflation has now been in decline for four months, and totaled only 14% in September.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.