German producer prices soar to record 25.9 percent

Berlin-Germany producer prices maintained record rises in February, rising 25.9% year-on-year, primarily due to energy prices, Federal Statistics Bureau data showed on Monday.

According to the Statistics Bureau, the surge in factory gate costs, considered a key indicator of consumer prices, was the largest since 1949.

February numbers have continued to rise record-breaking since the office began compiling numbers, surpassing December and January numbers by 24.2 percent and 25 percent, respectively.

The average analyst forecast surveyed by Reuters was an annual increase of 26.2%.

February producer prices did not take into account the impact of Russia’s attack on Ukraine.

Producer prices also rose 1.4% from the previous month.

Energy prices have risen 68% since February 2021, according to the Statistics Bureau. With the removal of energy prices, producer prices rose 12.4% year-on-year.

Miranda Murray