Germany's producer prices of commercial products up significantly in June

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BERLIN, July 20 (Xinhua) -- Germany's producer prices of industrial products in June increased by 8.5 percent over the same period last year, the highest year-on-year increase since January 1982, the Federal Statistical Office (Destatis) announced on Tuesday.

Compared to May, the producer prices for industrial products rose by 1.3 percent in June, according to Destatis.

Energy prices climbed 16.9 percent year-on-year in June and were "mainly responsible" for the increase of producer prices, according to Destatis.

The year-on-year increase in energy prices was "mainly caused by a base effect resulting from the sharp drop in prices in spring 2020 in the course of the pandemic," Destatis noted, adding that the CO2 pricing on some energy products introduced in Germany in January "also had a great impact."

Intermediate goods also recorded a "significant price increase" in June, by 12.7 percent year-on-year. Compared to the previous year, price increases were particularly high for metallic secondary raw materials and for sawn timber, which rose by 88.1 percent and 84.6 percent, respectively, according to Destatis. Enditem

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