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9/20, 8:00 AM (Source: TeleTrader)
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German annual PPI rises 12% in August

Producer prices in Germany in August were up by 12% on a yearly basis and 1.5% compared to the prior month, marking the highest increase since 1974, the country's statistical office Destatis said on Monday.

Energy prices contributed the most to the rise in inflation, surging 24% year-over-year and 3.3% since July. Intermediate goods prices jumped 17.1% and 1.4%.

Prices of durable consumer goods advanced 2.8% per annum and 0.5% month-on-month, while capital goods grew 2.4% and 0.6% respectively. Non-durable goods prices were up 2.1% and 0.2% in the same period.

Breaking the News / MD