The index of producer prices for industrial products in Germany rose 12.0% in August compared with the prior year, the German statistics office Destatis said Monday. This was the highest year-on-year increase since December 1974, when prices rose strongly during the first oil crisis, Destatis said. “Monday’s figures suggest that the German industrial sector is continuing to feel the rippling effects of the global supply chain crisis,” said Thomas Rinn, Accenture’s global industrial lead. Compared with the preceding month, the index rose by 1.5% in August. The main drivers of the rise were prices of energy and intermediate products, the statistics office said. Energy prices rose by 24.0% year-on-year, due to the strong increase in natural gas prices. The overall index after stripping out energy was up 8.3% on year in August, Destatis said. Prices of intermediate goods increased by 17.1% compared with August 2020, Destatis said. Intermediate goods […]