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%.