BERLIN (dpa-AFX) - Germany's wholesale prices increased at the fastest pace since 1974, largely due the low base effect, data published by Destatis showed on Friday.
Wholesale prices grew 11.3 percent on a yearly basis in July, following a 10.7 percent rise in June. Prices have been rising since February 2021.
The latest rise was the biggest annual rate since October 1974, when prices were up 13.2 percent amid the first oil crisis.
Month-on-month, wholesale price inflation eased to 1.1 percent in July from 1.5 percent in June.
There were sharp annual increases in the wholesale prices of ores, metals and semi-finished products and wholesale prices of used and residual materials in July.
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