German producer prices surge 24.2% in December

Thursday, 20. January 2022 08:02

Producer prices in Germany increased by 24.2% in December compared to the same month a year earlier, the country's national statistical office Destatis announced on Thursday. In November, the producer price index was up 19.2%.

Energy prices surged 69% year on year, led by natural gas prices which skyrocketed 121.9% from December 2020. Excluding energy, the producer price index rose 10.4% compared to the same month last year. Prices of intermediate goods rose 19.3%, led by a 36.1% jump in the prices of metals.

On a monthly basis, the producer price index rose 5% in December compared to November. Meanwhile, in the whole year 2021, producer prices were up 10.5% compared to 2020.

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