Monthly wholesale prices in Germany grow faster than eyed in November

The annual increase in wholesale prices in Germany accelerated in November while the monthly rise was higher than anticipated, data published by the Federal Statistical Office showed Monday.

Wholesale prices rose 1.5% on-year in November, up from 1.1% in October.

Monthly, German wholesale prices rose 0.3% in November, the same pace as in October but higher than the FXStreet-cited consensus, which had expected growth to slow to 0.2% in November.

Notably, prices of coffee, tea, cocoa and spices were up nearly 22% on-year in November, accelerated from nearly 21% in October.