Germany’s producer price index (PPI) for industrial products saw a 0.9pc increase in January 2021 compared to the same month in 2020, according to Federal Statistical Office (Destatis). On a monthly basis, the index rose by 1.4pc (over December).
The country’s intermediate goods prices grew by 2.4pc last month compared to January 2020. During this month, prices of non-ferrous metals grew by 7.4pc while basic iron, steel and ferro alloys increased by 5.6pc on an annual basis.
Germany’s durable consumer goods PPI was up by 1.5pc in January from a year ago with PPI of capital goods like machines and vehicles rising by 0.7pc. Non-durable consumer goods prices decreased by 1.8pc in January from last year, Destatis reported.