German producer prices up 3.4% in April

Economy 5/19/2017, 8:00 AM
German producer prices up 3.4% in April

Producer prices in Germany increased 3.4% in April compared to the same month last year, the country’s national statistical office Destatis, announced on Friday. The reading marks the highest year on year increase since December 2011. In March, the producer price index was up 3.1%. 

On a monthly basis, the producer price index was up 0.4% in April compared to March 2017. The index, excluding energy, rose 2.8% year on year and increased 0.3% compared to the previous month.

In  April, energy prices jumped 4.6% with petroleum products prices soaring 14.9% and electricity climbing by 8.2%, while natural gas prices dropped by 6.1%. Prices of intermediate goods increased 4.3%, non-durable consumer goods prices were 3.2% higher, durable consumer goods rose by 1.1% and capital goods prices grew 1%.

TeleTrader Newsroom / NP

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