The producer price index (PPI) in Germany jumped 45.8% in August compared to the same month in 2021, according to data published this Tuesday (20) by Destatis, as the statistics agency of the country.
The result was well above the expectations of analysts interviewed by the Wall Street Journal, which projected an increase of 37.9%. It was the biggest advance in an annual comparison ever recorded by the historical series.
The annual rate of PPI accelerated from 37.2% in July. Compared to the previous month, the index rose 7.9% in August.
It was also the biggest increase from one month to the next ever recorded in the historical series. Experts had expected an increase of 1.6% in the monthly comparison.
According to Destatis, energy prices in the country – which rose 139.0% compared to August 2021 and 20.4% compared to last July – were decisive for the increase.
The advances occurred mainly due to the rise in natural gas and electricity, which had increases of more than 200% compared to the same period in 2021.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
