The Rise in Prices of German Manufacturers Reached a Peak in 5 years
The Statistical Service of Germany, Destatis, in February 2017 recorded the most significant increase in prices of national producers in the last five years.
Wholesale prices in February 2017 increased by 0.2%, which in annual terms is 3.1%. This is the highest figure recorded since December 2011. According to experts' forecasts, annual price growth should not exceed 2.9%. In a month-long outlook, forecasts were justified.
Significantly, the increase in prices was influenced by the energy market. If you do not pay attention to the non linearity of the characteristics of price changes in this sector of the economy, then without taking into account energy prices, the absolute value of price growth in February increased by 0.3%, in terms of the year — by 2.2%.
Speaking about certain energy categories in Destatis, the price for light heating oil (52.5%), diesel fuel (21.2%) and electricity (9.6%) increased most in terms of the year. In the price fell by 7.5% only natural gas.
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