India, June 19 -- Germany's producer prices increased at the fastest pace in three years in May, Destatis reported Friday.
Producer prices grew 2.2 percent year-on-year in May, faster than the 1.7 percent rise seen in April. Prices grew the most since May 2023. Nonetheless, the pace of increase was slower than forecast of 2.5 percent.
The annual increase was primarily driven by higher prices of intermediate goods and energy. Intermediate goods prices advanced 4.2 percent and energy prices climbed 2.5 percent.
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