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Germany's Producer Inflation Surges to 2-Year High
(MENAFN) Germany's producer price index surged 1.7% year-on-year in April, reaching its steepest level since May 2023, federal statistical authority Destatis confirmed Wednesday.
Soaring energy costs, fuelled by persistent Middle East tensions, drove the bulk of the increase — climbing 2% compared to the same month last year, Destatis reported. Mineral oil prices delivered the sharpest shock, skyrocketing 35.5% year-on-year in April alone.
Not all energy sectors followed the upward trend, however. Destatis noted: "By contrast, year-on-year price decreases were even recorded in the case of natural gas and electricity, due also to the persistently high price level since the start of the war in Ukraine."
On a month-over-month basis, producer prices climbed a further 1.2% — signalling that inflationary pressure in Germany's industrial sector shows little sign of easing.
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