Germany’s producer prices jumped to a new record high in April due to increased energy prices.
- The index of producer prices surged 33.5% year on year in April, a new record annual jump as the war in Ukraine drove energy costs skyrocketing in Europe’s largest economy.
- On a monthly basis, the producer prices index rose by 2.8% amid the ongoing Russia-Ukraine war.
- Energy prices in Germany skyrocketed 87.3% from a year earlier and by 2.5% from March due to the strong price surges of natural gas.
- Prices of intermediate goods rose by 26.0% in April compared to a year earlier due to the increase in metal prices.
Growth in prices of non-durable consumer goods was largely attributable to increased prices for preserved meat and meat products.
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Source: Federal Statistical Office
