- PPI +19.2% vs +18.4% y/y prior
Price pressures have been rising across Europe and one of the stand outs from the ECB meeting was the rise in inflation pressures that was expected. This reading shows some relief for the m/m reading at 0.8%. However, the rise in energy prices is really a big pressure on prices. Here is Destatis on the print for the y/y reading:
In November 2021, the index of producer prices for industrial products increased by 19.2% compared with November 2020. As reported by the Federal Statistical Office this was the highest increase compared to the corresponding month of the preceding year since November 1951 (+20.6%). Compared with the preceding month October 2021 the overall index rose by 0.8% in November 2021.Mainly responsible for the increase of producer prices compared to November 2020 was the price increase of energy.