PPI in Germany reaches record high in August

According to the Federal Statistical Office (FSO), German producer prices rose more sharply in August than at any time since monthly and annual records began. The steadily rising price of energy is the main driving factor.

According to the report, the producer price index (PPI) rose 45.8% year-on-year in August and 7.9% from July.

Average energy prices more than doubled in August. Compared with a year earlier, they rose by 139% and in August by 20.4% compared with July.

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