German wholesale price growth speeds up to 1.2% in September

The increase in wholesale prices in Germany accelerated in September, data published by the Federal Statistical Office showed Monday.

Wholesale selling prices were up 1.2% on-year in September, picking up speed after rises of 0.7% in August and 0.5% in July.

The main reason for the annual increase were higher prices of food, beverages & tobacco, with average prices up 4.2% in September compared to just 0.2% growth in August.

Monthly, wholesale prices were 0.2% higher in September, compared to a decline of 0.6% the statistical office had reported a month ago for August.