German Wholesale Price Inflation Highest Since 1962

Germany’s wholesale prices grew the most since 1962 in November driven by higher prices for raw materials and intermediate goods, data released by Destatis showed on Monday.

Wholesale prices increased 16.6 percent year-on-year in November, after climbing 15.2 percent in October. This was the fastest inflation since 1962.

On a monthly basis, wholesale price growth eased to 1.3 percent from 1.6 percent in October.

There was a sharp increase in prices of many raw materials and intermediate products in November, Destatis said. Wholesale prices of petroleum products showed an annual growth of 62.4 percent.

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