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Financial News: German Producer Price Inflation Steady At 1-1/2-year High

German Producer Price Inflation Steady At 1-1/2-year High

12/19/2018 - 02:49:00 (RTTNews)

(RTTNews) - Germany's producer price inflation remained at its highest level in 19 months in November, data from the Federal Statistical Office showed on Wednesday.

Producer prices rose 3.3 percent year-on-year in November, same as in October. Economists had expected a 3.1 percent increase.

The pace of increase was the fastest since April 2017, when producer prices rose at the same rate.

Energy prices rose 8.9 percent and prices of petroleum products increased by 19.0 percent.

Prices of intermediate goods increased 2.4 percent and those of durable consumer goods rose 1.8 percent. Capital goods logged a price growth of 1.5 percent and non-durable consumer goods prices grew by 0.4 percent.

On a month-on-month basis, producer prices edged up 0.1 percent following a 0.3 percent gain in October. Economists had expected a 0.1 percent fall in November.

Excluding energy, the producer price index climbed 1.6 percent year-on-year and was unchanged from October.

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