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In April, Germany recorded an increase in producer prices for industrial goods at the level of 33.5% year on year. There has not been such a rise in prices in the country since 1949.. It is reported by the Financial Times with reference to the Federal Statistics Agency..
German energy producer prices up 87% year-on-year in April.
The situation was affected by problems due to the Russian attack on Ukraine, as well as new lockdowns in China due to the incidence of COVID-19.
Ralph Solvin, an economist at Commerzbank, noted that this puts additional pressure on the European Central Bank to quickly normalize its monetary policy: stop anti-crisis asset purchases and raise interest rates to fight inflation..
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Earlier it was reported that the Central Bank of Russia is preparing the population for record inflation.