The year-on-year rise in producer prices was the sharpest in March since 1949, when these data began to be systematically monitored. It accelerated from 25.9 percent in February and exceeded the expectations of analysts, who estimated it at an average of 28.2 percent in a Reuters poll.
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In a month-on-month comparison, producer prices increased by 4.9 percent.
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The rise in energy prices was mainly due to natural gas prices, which rose by almost 145 percent year on year. Electricity prices then rose by about 85 percent. Excluding energy prices, producer prices would have risen by 14 percent year on year in March, the statistical office warned.
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Producer prices are considered an important indicator of future consumer price developments. In Germany, they increased by 7.3 percent year on year in March, a similar rate of inflation was last in the country in the autumn of 1981.
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Preliminary data on April consumer price developments will be published by the statistical office next Thursday.
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