Friday, March 31, 2023

German producer prices are rising less

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German producer prices rise less sharply in December

In Germany, price inflation at the manufacturer level has weakened for the third time in a row, albeit from a high level.

Published: 4 minutes ago

Producer prices in Germany have again risen less sharply, but the figure for the year is still a record. (icon picture)

In December, producer prices rose by 21.6 percent year-on-year, as the Federal Statistical Office announced on Friday in Wiesbaden. In August and September, the prices manufacturers receive for their goods rose at a record rate of 45.8 percent. Since then, inflation has been declining.

In 2022 as a whole, producer prices rose by 32.9 percent. This is a record value since the earthquake began in 1949. The main reason for this was the sharp rise in energy prices – a consequence of Russia’s war against Ukraine. But even without energy, manufacturer prices increased significantly by 14 percent last year. In addition to energy, intermediate goods in particular were more expensive.

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