20.10.201703:02:00UTC+00German Producer Price Growth Picks up in September

Germany's wholesale inflation advanced at a more accelerated pace in September compared to the previous month, with inflation rallying across all of the nation's main top industrial sectors, the latest sign that threats of deflation have all but disappeared.

The German producer price index index increased 3.1 percent year-on-year in September, from 2.6 percent in the preceding month. The figures were slightly above the 3 percent economists had projected.

Inflation in the euro area's powerhouse economy has significantly gained momentum in the prior month, aided by the better-than-anticipated expansion across the economic block, along with a recovery in energy prices.

Prices of nondurable goods increased by 3.4 percent, while intermediate goods rose 3.6 percent. Energy and electricity prices rose 4.6 percent and 8.9 percent respectively.

The inflation figures are perceived as positive developments by ECB policymakers who for years after the eurozone debt crisis were concerned regarding deflation.