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Germany’s producer prices rose at the fastest pace since January 1975, data published by Destatis revealed on Friday.

Producer prices grew 10.4 percent yearly in July, following a 8.5 percent rise in June. Economists had forecast an increase of 9.2 percent.

This was the fastest rise since January 1975, when prices grew sharply amid first oil crisis.

Excluding energy, producer prices gained 7.4 percent annually in July, following a 6.0 percent increase in the prior month.

On a monthly basis, overall producer price inflation rose to 1.9 percent from 1.3 percent in June. Economists had forecast a rise of 0.8 percent.

Among components, energy registered the biggest price growth of 20.4 percent and prices for intermediate goods gained 15.6 percent.

Producer prices of durable consumer goods grew 2.2 percent. Prices of non-durable consumer goods and capital goods prices rose by 1.8 percent, each.


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