German producer prices rose strongly on a year-on-year basis in June mainly due to higher energy prices, but at a slower pace than the previous month, when they had posted their biggest increase on record.
Producer prices rose 32.7% year-on-year in June, according to statistics agency Destatis, after a 33.6% rise in May and 33.5% in April.
Compared to the previous month, the producer price index rose 0.6% in June.
Energy prices rose 86.1% compared to the previous year, Destatis pointed out. A strong rise in natural gas prices, up 141.1% year-on-year, as well as a 93.3% rise in electricity prices, were strong factors behind the increase.
The producer price index excluding energy rose 15.5% year-on-year.
Prices of intermediate goods rose 22.3% from a year earlier, while significant price increases were recorded in metals, which rose 33.6% in June.
Prices of non-durable consumer goods rose 14.7% year-on-year, prices of consumer durables rose 10.5% and prices of capital goods rose 7.4%.
Source: Capital
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