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German Annualized Producer Price Inflation Reaches 26 Year High |
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European Economy |
Written by CEP News |
Jul 18 08 07:08 GMT |
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(CEP New) Frankfurt - According to the Federal Statistics Office (Destatis), German producer price inflation accelerated to 6.7% year-over-year in June, up from both the 6.5% growth rate expected and the 6.0% recorded in May. June's annualized increase is the largest recorded since March 1982.
In monthly terms, the producer price index rose 0.9%. Economists had expected a more severe slowdown to 0.7% after prices increased 1.0% in the previous month. By Todd Wailoo,
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