German official producer prices leap by 3.7 percent in July

19th August 2010, Comments 0 comments

German producer prices, the cost of goods at the factory gate, gained 0.5 percent in July from June, and leapt 3.7 percent from July 2009, data released Thursday by the national statistics office showed.

Analysts polled by Dow Jones Newswires had forecast increases of 0.1 percent and 3.3 percent, respectively, for the biggest European economy.

The annualised figure marked a sharp increase from the two previous months.

A rise of 0.9 percent was recorded in May and one of 1.7 percent in June, the Destatis statistics office said.

On August 10, Destatis revised slightly higher its figure for overall German inflation in July to 1.2 percent, regaining a high for the year reached already in May.

© 2010 AFP

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