German wholesale prices rise 6.8% year-on-year in August, highest in three and a half years
MacroCommodity
Germany's Federal Statistical Office reported on the 15th that the wholesale price index for August rose 6.8% compared with the same month a year earlier, the fastest pace in three and a half years. The growth rate is the highest since 9.5% in February 2023, and prices rose 0.9% from the previous month. The office explained that, as in the preceding months, the main driver of August's price increase was the conflict in the Middle East, with wholesale prices for energy products and raw materials in particular climbing. Prices for petroleum products surged 36.1% year-on-year, while chemical products rose 13.6%.
