German wholesale price inflation at 27-year high
DDP/The Local · 11 Aug 2008, 16:15
Published: 11 Aug 2008 16:15 GMT+02:00
Wholesale prices leapt 9.9 percent last month over July 2007, the fastest inflation since November 1981 when prices rose 10 percent year on year.
Compared to the month of June, wholesale prices rose 1.4 percent, the office said.
A 31 percent increase in the price of fuel and oil since the start of the year are primarily responsible for the surging inflation.
The cost of grains and animal feed has risen 18 percent so far this year, while metals have risen nearly 16 percent. Inflation has also hit food prices, which have risen more than 10 percent since December 2007.