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#Dow Jones Newswires: German producer prices soar 33% annually in April, highest increase on record

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“Dow Jones Newswires: German producer prices soar 33% annually in April, highest increase on record”

Germany’s producer prices rose strongly in April, driven by higher energy prices, posting the biggest increase ever recorded, the German statistics office Destatis said.

Producer prices rose 33.5% on year, Destatis said.

Energy prices rose 87.3% from a year earlier, it said. Strong gains in the price of natural gas, up 154.8% on year, were a major factor behind the increase, it said.

The producer price index excluding energy rose 16.3% on year, according to Destatis.

Prices of intermediate goods increased 26.0% from a year earlier. Significant price increases were recorded by metals, fertilizers, prepared feeds for farm animals and wooden containers, Destatis said.

Prices of nondurable consumer goods increased by 13.2% on year, prices of durable consumer goods rose 8.3% and capital-goods prices increased by 6.7%, Destatis’s data showed.

Write to Maria Martinez at [email protected]

Maria Martinez

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