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PPI in Germany rises to a record high in July

As reported by the German Federal Statistical Office (Destatis), the producer price index (PPI) rose by 5.3% in July compared with the previous month. This is the strongest increase since data collection began.

According to the report, energy prices increased by 105% year-on-year. This is mainly due to a 163.8% year-on-year increase in natural gas prices, including electricity bills, which increased by 125.4% year-on-year.

Excluding energy prices, the PPI was up 14.6% year-on-year.

The price of intermediate goods in July rose 19.1% year-on-year. This was mainly driven by a 24.1% rise in metal prices.

The price of non-durable consumer goods rose 16.2% in July year-on-year. Durable consumer goods rose 10.9% and capital goods prices rose 8% year on year.

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