World: Record rise: Producer prices for commercial products rise sharply to

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in Germany increases the prices for commercial products again at a record pace. Fueled by high energy prices, producer prices increased by 37.2 percent compared to the same month in the previous year, as the Federal Statistical Office announced on Friday in Wiesbaden. It was the strongest increase within a year since the start of the survey in 1949. In June, the price surge had slowed down, the rate of change was 32.7 percent at the time. In the previous month, producer prices increased by 5.3 percent in July. This was also a record rise.

Durch die hohen Energiekosten steigen in Deutschland die Preise für gewerbliche Produkte wieder im Rekordtempo. © dpa Due to the high energy costs, the prices for commercial products in Germany increase again at a record pace.

the development is still driven by energy prices, which rose by 105.0 percent in the year. Natural gas was around 163.8 percent more expensive than a year ago. For natural gas, power plants even paid 234.7 percent more, industrial buyers 194.7 percent. Electricity increased by 125.4 percent and mineral oil products by 41.8 percent within one year. There were also high price increases with many input power goods, especially with metals and chemical basic materials such as fertilizers and nitrogen compounds. The producer prices affect consumer prices. (dpa)

What pushed gas prices to extreme highs? .
European gas prices are now about 10 times higher than their average level over the past decade. © Getty Images In February 2021 UK gas was trading at 38p per therm (a measurement of gas consumption). This month it reached 537p per therm. What's driving those high prices?What's happened in the past year?Energy prices around the world rose sharply as Covid lockdowns were lifted and economies returned to normal. Many places of work, industry and leisure were all suddenly in need of more energy at the same time, putting unprecedented pressures on suppliers.

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