German Wholesale Price Inflation Rises

(RTTNews) - Germany's wholesale price inflation accelerated in August on higher food and non-ferrous ores, Destatis said on Monday.

The wholesale price index posted a 0.7 percent annual growth after rising 0.5 percent in July.

The main reason for the annual increase was the 4.2 percent rise in prices of food, beverages and tobacco and 21.1 percent surge in non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products prices.

By contrast, the wholesale prices of solid fuels and mineral oil products slid 6.9 percent.

Month-on-month, wholesale prices were down unexpectedly by 0.6 percent, which was faster than the 0.1 percent drop seen in July and marked the second consecutive fall. Prices were forecast to rise 0.2 percent.