German wholesale price growth slows last month

ISTANBUL-Anadolu Agency

Monthly wholesale price growth in Germany slowed sharply to 0.4 percent in October, matching market forecasts, official data released on Nov. 13 showed.

The reading eased from a 1.9 percent monthly increase recorded in September, according to figures from the Federal Statistical Office (Destatis).

On the other hand, annual wholesale selling prices accelerated to 8.8 percent in October, up from 8.7 percent in the previous month.

The annual surge was primarily driven by the conflict in Iran and the Middle East, which pushed up wholesale prices for energy products.

Mineral oil product prices jumped 47.6 percent year-on-year and rose 0.9 percent month-on-month in October.

Chemical product prices increased 18.6 percent year-on-year and 1.1 percent on a monthly basis.