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Financial News: Germany Producer Price Inflation Highest Since 2011

Germany Producer Price Inflation Highest Since 2011

04/20/2021 - 02:56:00 (RTTNews)

(RTTNews) - Germany's producer prices increased in March at the fastest pace since late 2011 driven by higher energy and intermediate product prices, Destatis reported Tuesday.

Producer price inflation accelerated sharply to 3.7 percent in March from 1.9 percent in February. This was the biggest increase since November 2011.

Month-on-month, producer prices gained 0.9 percent versus a 0.7 percent rise in the prior month.

Energy prices increased 8.0 percent compared to March 2020 and the cost of intermediate goods gained 5.7 percent, which was the biggest since July 2011. Prices of durable consumer goods climbed 1.4 percent annually and that of capital goods, such as machines and vehicles, by 0.9 percent. Meanwhile, non-durable consumer goods prices decreased 1.4 percent.

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