Germany’s wholesale price inflation eased for the fourth month in a row in August but remained at an elevated level, data from Destatis showed on Thursday.
Wholesale prices logged a double-digit annual growth of 18.9 percent after rising 19.5 percent in July. The pace of growth has slowed for the fourth consecutive month.
On a monthly basis, wholesale prices edged up 0.1 percent, in contrast to July’s 0.4 percent fall.
The annual increase was largely driven by the sharp rise in prices of many raw materials and intermediate products. Prices of wholesale petroleum products surged 54.3 percent, which contributed the most to the annual inflation.
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