Germany's Producer Price Inflation Surges A Staggering 7.9% In August For An Annual Increase Of 45.8%

Reuters: German Producer Prices Post Surprise Record Jump in August 

BERLIN (Reuters) -German producer prices rose in August at their strongest rate since records began both in annual and monthly terms, driven mainly by soaring energy prices, raising the chances that headline inflation will surge even higher. 

Producer prices of industrial products increased by 45.8% on the same month last year, the Federal Statistical Office reported on Tuesday. Compared to July 2022, prices rose 7.9%, it added. 

The surge was considerably stronger than expected, with analysts having forecast a 37.1% year-on-year rise and a 1.6% monthly rise, according to a Reuters poll. 

In July, the year-on-year increase had been 37.2% and in June 32.7%. 

Energy prices in August on average were over double the same period last year, up 139%, and 20.4% higher than the previous month, the office reported.  

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Update #1: German producer price post record jump, adding to inflation woes (Politico)  

Update #2: Germany Producer Price Inflation Soars To Record High (Market Insider/RTT)  

WNU Editor: More indications that the German and EU economies are crashing.