Germany’s producer inflation at historical high level in August

ISTANBUL

Germany’s producer prices increased by 45.8% year-on-year in August, hitting a historical high level.

According to Federal Statistical Office Destatis’ data, the monthly producer inflation was also at a record level with 7.9% in August.

The office said energy was the main reason for high inflation in the country.

“Prices also rose significantly for intermediate goods (+17.5%) and capital goods (+7.8%) as well as for durable and non-durable consumer goods (10.9% and 16.9%, respectively),” it added.