2021.05.1106:22:00UTC+00Germany's Wholesale Price Inflation Strongest In A Decade

Germany's wholesale prices grew at the fastest pace in a decade in April on higher petroleum product prices, data released by Destatis showed on Tuesday.

Wholesale prices rose 7.2 percent year-on-year in April, following a 4.4 percent rise in March. This was the biggest growth since March 2011, when prices were up 8.4 percent.

Data showed that wholesale petroleum product prices surged 34.1 percent in April and prices of scrap and residual materials climbed sharply by 83.6 percent.

On a monthly basis, wholesale prices gained 1.1 percent but slower than the 1.7 percent increase posted in March.