Germany October chemical producer prices up 0.4% from September

19 November 2010 14:39  [Source: ICIS news]

TORONTO (ICIS)--Germany’s October chemical producer prices rose 0.4% from September, the country’s federal statistics agency said on Friday.

Compared with October 2009, chemical producer prices rose 4.8%, said Wiesbaden-based Statistisches Bundesamt.

Among the major chemical product groups tracked by the agency, polystyrene prices recorded the highest price increase - rising 1.2% sequentially from September and 15.6% year on year from October 2009.

Fertilizer prices rose 3.1% sequentially from September, and were up 3.3% from October 2009, the agency said.

Overall, German producers prices rose 0.4% sequentially from September.

Year on year, German producer prices rose 4.3% from October 2009, the highest year-on-year increase in two years.

The major driver in the overall increase in October's producer prices was an increase in prices for energy, which rose 0.7% from September and 7.2% from October 2009, the agency said.

Excluding energy, Germany's overall producer prices rose 0.2% from September and 3.1% from October 2009.

Economists have forecast Germany’s inflation rate at 1.1% for 2010 and 1.4% for 2011, according to the most recent projections.

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By: Stefan Baumgarten
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