20.02.201702:29:00UTC+00Germany's Producer Price Inflation Fastest Since 2012

Germany's producer prices climbed at the fastest pace in nearly five years in January, data from Destatis showed Monday.

Producer prices climbed 2.4 percent year-on-year in January, following a 1 percent increase in December.

This was the third consecutive rise in prices and the fastest since March 2012, when prices advanced 2.6 percent. Prices were forecast to grow 2 percent.

Month-on-month, producer prices gained 0.7 percent versus 0.4 percent in December and the expected increase of 0.3 percent.

Excluding energy, producer prices climbed 0.6 percent from December and by 1.8 percent from the same period of 2016.

The price indices of all main industrial groups rose compared with January 2016. Energy prices moved up 4 percent.

Likewise, prices of intermediate goods rose by 2.4 percent and that of non-durable consumer goods by 2.2 percent. Prices of durable consumer goods and capital goods increased by 1 percent and 0.9 percent, respectively.