German producer prices increase 3.1% in February
Producer prices in Germany increased 3.1% in February compared to the same month last year, the country’s national statistical office Destatis, announced on Monday. January's reading marks the highest year on year increase since December 2011. In January, the producer price index was up 2.4%.
On a monthly basis, the producer price index was up 0.2% in February compared to the first month of 2017.
The index, excluding energy, rose 2.2% year on year and increased 0.3% compared to January. In February, energy prices jumped 5.4% with petroleum products prices soaring 22.7%, while natural gas prices declined by 7.5%. Prices of intermediate goods climbed 3.3%, non-durable consumer goods prices were 2.3% higher, durable consumer goods rose by 1.1% and capital goods prices grew 0.9%.