Market news
18.06.2021, 06:33

Germany's producer price index rose sharply in May

The Federal Statistical Office said that in May 2021, the index of producer prices for industrial products increased by 7.2% compared with May 2020. This was the highest increase compared to the corresponding month of the preceding year since October 2008 (+7.3%), when prices rose strongly before the finance crisis. Economists had expected a 6.4% increase. Compared with the preceding month April 2021 the overall index increased by 1.5% in May 2021. The last time prices rose more compared to the previous month was also in the run-up to the financial and economic crisis in July 2008 (+2.0%). Economists had expected a 0.7% increase.

Mainly responsible for the increase of producer prices compared to May 2020 were the prices of intermediate products and of energy. Prices of intermediate goods increased by 10.7% compared to May 2020. Compared to April 2021 these prices were up 2.2 %.

Energy prices as a whole increased by 14.9% compared to May 2020 and by 2.6 compared to April 2021. The price increase from May 2020 to May 2021 is mainly caused by a base effect resulting from the sharp drop in prices in spring 2020 in the course of the pandemic. National CO2-pricing that has been introduced in January 2021 on several energy products also had a great impact on the price increase of energy. 

The overall index disregarding energy was 4.9% up on May 2020.

Prices of durable consumer goods increased by 1.7% compared to May 2020 (+0.1% compared to April 2021), capital goods, such as machines and vehicles, by 1.2% (+0.2% compared to April 2021).

Prices of non-durable consumer goods increased by 0.5% compared to May 2020 but remained unchanged compared to April 2021. Food prices increased from May 2020 to May 2021 by 0.3.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location