Germany’s producer price index for industrial products rose by 3.7pc in March this year annually while it rose by 0.9pc from the previous month, according to the Federal Statistical Office (Destatis).
Prices of intermediate goods saw a 5.7pc rise in March this from the same month last year while it was up by 1.6pc from February this year. Under this the price of metallic secondary raw material saw a 46.8pc increase in March 2021 from March 2020 and prices of metals saw a 12.9pc increase, Destatis reported. Prices on non-ferrous metals rose by 17.9pc in March this year and prices of iron, steel, and ferro alloy products grew by 17.5pc from the same month a year ago mainly because of supply disruptions across the globe due to the pandemic.
Prices of durable consumer goods saw a 1.4pc rise in March from March 2020 under which goods such as machines and vehicles grew by 0.9pc. Prices of non-durable consumer goods decreased by 1.4pc in March 2021 annually while it rose by 0.9pc from February this year, Destatis reported.