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March 2011

Prospects Daily: German producer prices higher on energy costs

Global Macroeconomics Team's picture

Important developments today:

Producer prices in Germany escalate. Producer prices in Germany, the Euro Area’s largest economy, increased 0.7% in February (m/m), and were up by 6.4% compared to a year ago. The rate of increase slowed from the 1.2% (m/m) increase recorded in January. According to the German Statistics Office, much of the increase in the gateway producer price was due to higher energy and metals costs. Energy prices in Germany were up 0.9% on the month and 11% on the year.