Producer prices’ growth in Germany hits a record

Producer prices in Germany showed a record increase. In January, they rose by 25% compared to prices in the same month of 2021. Such a high rise in prices has not been observed in the country for more than 70 years. It occurred against the backdrop of an increase in energy prices by almost 67%. Gas has increased in price by 119%. Consumer and intermediate goods rose in price last month by 6.75% and 20.7% respectively. Compared to December, prices rose by 2.2%. Both indicators were higher than the levels that analysts predicted. They assumed that, in annual terms, prices would rise by 24.4% in January, and by 1.5% compared to the previous month. Producer prices have been rising in Germany for 13 consecutive months. The growth rate exceeding the level of 10% is observed within 7 months. The increase in producer prices, calculated without taking into account the cost of energy, amounted to 12% in January in annual terms. And about December, prices increased by 2.5%.

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Arseny Kudrin

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