German producer prices jump by 5.2 percent in April

May 20, 2008
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, FRANKFURT, May 20 – German prices at the factory gate jumped by 5.2 percent in April, the biggest annual increase since August 2006, figures released on Tuesday by the national statistics office showed.

Producer prices rose by 1.1 percent from their level in March, the Destatis office said.

As is regularly the case, energy prices were largely responsible for the increases, and the annual rate of increase fell back to 2.7 percent once such elements were excluded, it added.

Analysts polled by Thomson Financial News had expected a monthly increase of 0.5 percent and a yearly rise of 4.7 percent.

Persistently high inflation in the 15-member eurozone has led the European Central Bank to maintain its main lending rate at 4.0 percent even as the US Federal Reserve and Bank of England lowered their rates to underpin economic activity.

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