Germany Wholesale Price Inflation Strongest Since 1962

Germany's wholesale price inflation hit a fresh record high in April on high raw materials and energy prices, data published by Destatis showed on Monday.

Wholesale price inflation advanced to 23.8 percent in April from 22.6 percent in March. This was the biggest rate since records began in 1962.

The impact of the war in Ukraine on wholesale prices was observed in April especially in wholesale with raw materials and energy sources, but also with various foods, Destatis said.

Wholesale prices of mineral oil products grew sharply by 63.4 percent and that of solid fuels gained 70.9 percent.

On a monthly basis, wholesale prices grew 2.1 percent, much slower than the 6.9 percent increase posted in March. The increase was largely driven by food product prices.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow. Earnings for the quarter spiked to $509.99 million from $151.09 million last year. On a per share basis,... Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22. ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook. The company reported a quarterly...
Follow RTT