German producer prices jumped 25% on the year in January, pushed up mainly by higher energy prices, official data showed today.
The January figures continued the trend of very steep increases for the fourth month in a row after October, November and December showed jumps of 18.4%, 19.2% and 24.2%, respectively.
Analysts polled by Reuters had forecast an annual increase of 24.2%.
Producer prices also registered an increase of 2.2% month on month, against a record 5% in December.
Energy prices were up 66.7% compared with January 2021, the Federal Statistics Office said. Stripping out energy prices, producer prices rose 12% on the year.
Producer prices are considered a leading indicator for inflation.
They are recorded at the factory gate - before products are processed further or go on sale - and can provide an early indication of consumer price trends.
