German producer prices rise 1.1%
Photo: Matthias Schrader/AP/TT

German producer prices rise 1.1% in August, above expectations

Producer prices in Germany rose 1.1 percent in August compared with July, according to the country's statistics agency, Destatis. The figure was unexpectedly high.

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Analysts had expected an average increase of 0.6 percent, according to the Bloomberg news agency.

At an annual rate, this meant a price increase of 4.6 percent, clearly higher than the analysts' average forecast of 3.9 percent.

"The increase in producer prices compared with the same month last year is mainly due to higher energy prices," Destatis writes in a press release .

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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