BERLIN- German producer prices rose 30.9 percent on the year in March, reflecting the effects of the war in Ukraine for the first time, data from the Federal Statistics Office showed on Wednesday.
March’s figures mark six consecutive months of increasingly steeper increases, mainly due to rising energy prices, according to the statistics office.
“These results should already contain first implications deriving from Russia’s attack on Ukraine,” said the 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 percent. February had seen an increase of 25.9 percent on the year.
Producer prices registered a jump of 4.9 percent compared to the previous month. — Reuters
