20.11.201802:48:00UTC+00German Producer Price Inflation Highest In 1-1/2 Years

Germany's industrial producer prices rose at the fastest pace in 18 months during October, figures from the Federal Statistical Office showed on Tuesday.

Producer prices rose 3.3 percent year-on-year following a 3.2 percent increase in September. The increase matched economists' expectations.

The pace of increase was the fastest since April 2017, when producer prices rose at the same pace. A rate higher than this was last seen in December 2011, when inflation was 3.5 percent.

Energy prices rose 9.4 percent and electricity costs climbed 9.1%. Prices of intermediate goods were up 2.3 percent and those of durable consumer goods rose 1.7 percent. Capital goods logged a price growth of 1.4 percent and prices of non-durable consumer goods grew 0.2 percent.

On a month-on-month basis, producer prices increased 0.3 percent following a 0.5 percent gain in September. The outcome was in line with economists' expectations.