logo
  

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
The U.S. Centers for Disease Control and Prevention or CDC director, Rochelle Walensky, has initiated a reorganization of the public health agency noting that it failed to reliably meet expectations during the coronavirus pandemic period, reports said. The proposed changes for a reset in the agency are expected to help it respond quicker to new health threats. While reporting financial results for the second quarter on Thursday, department store chain Kohl's Corp. (KSS) slashed its adjusted earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now projects adjusted earnings in a range of $2.80 to $3.20 per share on a net... Apple Inc. is planning to hold a launch event on September 7 to unveil its latest iPhone 14 line, Bloomberg reported citing people with knowledge of the matter. The tech major is also expected to roll out its latest version of three Apple Watch models including Series 8. The new products, which also include multiple new versions of Macs, and low and high-end iPads, are likely to reach stores...
Follow RTT