Germany's producer inflation at historical high level in August

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Germany's producer prices rose 45.8% year-on-year in August.

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which reached a historic high.

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According to Federal Statistical Office Destatis' data, the monthly producer inflation was also at a record level with 7.9% in August.

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The office said energy was the main reason for high inflation in the country.

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"Prices also rose significantly for intermediate goods (+17.5%) and capital goods (+7.8%) as well as for durable and non-durable consumer goods (10.9% and 16.9%, respectively)," it added.

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