German producer prices rise in August

17th September 2004, Comments 0 comments

17 September 2004 , WIESBADEN - Rising costs for steel and oil sent German producer prices higher in August, to an annual rise of 2.2 percent, the Federal Statistics Office reported Friday. In the third report this month showing a rise in price structures in Germany, the office said the month-on-month rise from July was 0.3 percent. The office said that the upward pressure on producer prices was reflected in the 3.6 percent rise for petroleum products from July to August, while rolled rolled steel producti

17 September 2004

WIESBADEN - Rising costs for steel and oil sent German producer prices higher in August, to an annual rise of 2.2 percent, the Federal Statistics Office reported Friday.

In the third report this month showing a rise in price structures in Germany, the office said the month-on-month rise from July was 0.3 percent.

The office said that the upward pressure on producer prices was reflected in the 3.6 percent rise for petroleum products from July to August, while rolled rolled steel production costs gained by 1.5 percent.

The August annual rise of 2.2 percent compares with 1.9 percent in July and is the highest measured since the 2.7 percent rate in August 2001, the office noted.

The producer price data is the third report this month showing rising cost pressures in Germany, chiefly from oil but also increasingly from steel.

Last week, the Statistics Office reported that consumer price inflation reached a 2.0 percent annual rate in August, up from 1.8 percent in July, while four days ago the office said August wholesale prices had surged to 4.2 percent year-on-year, from 3.9 percent in July. It was the highest annual rate since December 2000.

DPA

Subject: German news

0 Comments To This Article