Trading Economics/Staff/4-20-2022
“Annual producer inflation in Germany jumped to 30.9% in March of 2022, breaking a fresh record high for a 4th straight month and much higher than 25.9% in February and forecasts of 28.2%. The figures reflect the effects of the war in Ukraine for the first time, with energy prices remaining the biggest upward contributor (83.8%), namely distribution of natural gas (144.8%), electricity (85.1%), mineral oil products (61.3%). Excluding energy, producer prices increased 14% yoy. Other significant price increases were seen for intermediate goods (23.3%), namely metals (39.7%), fertilisers and nitrogen compounds (+87.2 %), wooden containers (68.8%); and non-durable consumer goods (9.6%), namely food (12.2%); and capital goods (5.8%, the biggest increase since 1975). Compared to the previous month, producer prices increased 4.9%.”
USAGOLD note: These runaway inflation numbers are likely to keep German gold demand running at very high levels. Note fertilizer prices rising 87.2% – nearly doubling.
Germany producer price inflation
(%, year over year)
Source: tradingeconomics.com
