German producer prices gain less than forecast: statistics

17th September 2010, Comments 0 comments

German producer prices, the cost of goods at the factory gate, rose by less than expected in August despite higher metal and energy prices, figures released on Friday by the national statistics office showed.

Prices gained 3.2 percent from the same same month a year earlier and were essentially unchanged from July 2010, the Destatis office said.

Analysts surveyed by Dow Jones Newswires had forecast an annualised increase of 3.5 perent and a rise of 0.3 percent on the month.

The 12-month rate in July was a markedly higher 3.7 percent, Destatis noted.

In August, intermediate goods such as metals and chemicals used in the production of final products posted the strongest increases, along with energy prices.

Intermediate goods prices gained 5.6 percent and energy cost 4.8 percent more on the year.

A breakdown of the former revealed that metal prices leapt by 17.5 percent.

© 2010 AFP

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