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Financial News: Germany Wholesale Price Inflation At 8-Month Low

Germany Wholesale Price Inflation At 8-Month Low

11/15/2022 - 03:06:00 (RTTNews)

(RTTNews) - Germany's wholesale price inflation eased in October to reach its lowest level in eight months, data from Destatis showed on Tuesday.

Wholesale prices climbed 17.4 percent year-over-year in October, slower than the 19.9 percent spike in September.

Moreover, this was the slowest rate of increase since February, when prices had risen 16.6 percent.

The overall inflation in October was largely attributed to increased prices for raw materials and intermediate products, the agency said.

Compared to last year, a 41.5 percent jump in the prices of petroleum products impacted the rate of change the most.

Prices for solid fuel surged 99.1 percent annually in October, and those for live animals rose 52.2 percent.

On a monthly basis, wholesale prices dropped 0.6 percent from September, when they increased by 0.6 percent.

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