German producer prices rise 1.1% in August, above expectations

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German producer prices rise 1.1% in August, above expectations
Photo: Matthias Schrader/AP/TT

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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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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