German production costs hit 70-year high ...News

Producer prices jump by nearly 50% for two months in a row German manufacturers hiked their prices by nearly 50% in September year-on-year, following similar increases in recent months, the Federal Statistics Office (Destatis) reported on Thursday. Producer prices for commercial products rose by 45.8% in September compared to the same month last year, Destatis said. The rate was 2.3% higher than in August, which saw an identical surge of 45.8% year-on-year. “August and September 2022 were therefore the highest Increases in producer prices compared to a month in the previous year have been measured since the survey

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