The price increase at the manufacturer level in Germany has accelerated.
In September, the prices that manufacturers receive for their products increased by 14.2 percent compared to the same month last year, as the Federal Statistical Office announced on Wednesday.
It was the highest year-on-year increase since October 1974, when prices rose 14.5 percent in the first oil crisis.
In August of the current year the rate of increase was 12.0 percent and in July 10.4 percent.
The main reason for the development was the jump in energy prices, which rose by an average of 32.6 percent in September compared to the same month last year.
Natural gas was particularly expensive (plus 58.9 percent).
At the same time, the prices of many intermediate goods such as wood and metals rose sharply.
The background to this is the high demand due to the global economic recovery after the corona shock and, in some cases, considerable problems in international trade in goods, which are causing shortages.
The price increases in September compared to the same month last year were particularly high for sawn coniferous timber (plus 117.9 percent), packaging made of wood (plus 92.5 percent), secondary raw materials (plus 87.2 percent) and reinforcing steel in bars (plus 81.8 percent) ).
Metals were on average 35.5 percent more expensive than a year earlier.