BERLIN – German producer prices rose 30.9% on the year in March, reflecting the effects of the war in Ukraine for the first time, data from the Federal Statistics Office showed recently.
March’s figures mark six consecutive months of increasingly steeper increases, mainly due to rising energy prices, according to the statistics office.
The jump in factory gate costs, considered a leading indicator for consumer prices, was the biggest since records started in 1949, the statistics office said.
The average expectation among analysts polled by Reuters was for an annual increase of 28.2%, Reuters reported.
Producer prices registered a jump of 4.9% compared to the previous month.
