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German Producer Inflation Quickens to Record High as Energy Prices Climb Further

May 20, 2022 by Forex Winner Leave a Comment

German Producer Inflation Quickens to Record High as Energy Prices Climb Further

Source: Destatis

Producer inflation in Germany continued to accelerate in April, hitting the fastest pace on record, driven mainly by higher energy prices. EWG is up 0.96%, while DAX is up 0.98%.

  • Annual producer inflation stood at 33.5%, following the 30.9% in March and 25.9% in January. This is the highest on record.
  • Monthly inflation stood at 2.8%, taking into account the implications of the ongoing conflict between Russia and Ukraine.
  • Energy prices posted an annual increase of 87.3% and a monthly increase of 2.5%.
  • Natural gas prices surged by 154.8%, with power plants having to pay 307.0% higher during the same period the past year.
  • Industrial consumers’ prices jumped by 259.9%, while those of resellers climbed by 170.0%.
  • Electricity prices grew by 87.7%, redistributors had to pay 157.3%, and special contract customers gained 85.6%.

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