Germany wholesale price inflation accelerated further in February on higher raw materials and intermediate product prices, data released by Destatis showed on Monday.
Wholesale price inflation advanced to 16.6 percent in February from 16.2 percent in January.
Month-on-month, wholesale prices gained 1.7 percent, slower than the 2.3 percent increase in January. Economists had forecast a slower increase of 0.9 percent.
Destatis said the latest price developments related with Russia’s attack on Ukraine are not contained in the results as wholesale prices were collected for reference date February 5, 2022.
Mineral oil products prices gained 43.6 percent and prices of wholesale trade of waste and scrap surged 46.0 percent, data showed.