German Wholesale Inflation Hits 47-Year High in September

Source: Destatis

German wholesale selling prices rose by a 47-year high in September, mainly driven by the hikes in prices of raw materials and intermediate products. EWG is up 0.25%.

• Wholesale selling prices surged by 13.2% in September, marking the fastest annual inflation since June 1974 during the first oil crisis.
• The latest inflation print follows 12.3% in August and 11.3% in July.
• The acceleration is attributed to the higher prices of materials and the base effect after the previous year’s price levels were hit by the COVID-19 pandemic