German producer prices surge again in September

German producer prices surged again in September amid soaring energy prices, according to figures released by Destatis on Thursday.

Prices rose 45.8% on the same month a year earlier, in line with August, which saw the strongest jump since 1949.

Energy prices were the biggest contributing factor, up 132.2% compared to September 2021 as natural gas prices rose 192.4% and electricity pushed up 158.3%. Excluding energy, the overall index was ahead 14% on the year.

The price of intermediate goods rose 16.8% compared to last September, while non-durable consumer goods prices increased 18.3%. The price of durable consumer goods was 10.9% higher on the year.

On the month, producer prices were up 2.3% in September, following a 7.9% increase in August.