Germany Wholesale Price Inflation Rises To 9-month High

(RTTNews) - Germany's wholesale price inflation accelerated in November to the highest level in nine months, data from Destatis revealed on Monday.

Wholesale prices rose 1.5 percent year-over-year in November, faster than the 1.1 percent rise in October.

Moreover, this was the highest rate since February, when prices rose 1.6 percent.

Prices for food, beverages, and tobacco products were 3.2 percent higher compared to last year. There was a significant rise in costs in the wholesale trades of non-ferrous ores, non-ferrous metals, and semi-finished products made from them, which grew 28.1 percent. Meanwhile, prices for scrap materials and residues were 6.5 percent cheaper.

On a monthly basis, wholesale prices increased at a stable rate of 0.3 percent in November. The expected rise was 0.2 percent.