Producer prices again rose particularly sharply in the energy sector. Compared to the same month of the previous year, energy prices rose by 116.8 percent, which corresponds to more than doubling. Compared to the previous month alone, energy was 11.8 percent more expensive. Intermediate goods, which are particularly important for current production, also rose sharply. However, the rise in prices here has been weakening for a few months.
Also read: Dilemma for consumers – “perceived inflation” is three times as high and starts a dangerous spiral
Producer prices capture producer-level price pressure by reflecting producer selling prices. The development usually also affects consumer prices, which the European Central Bank (ECB) bases its monetary policy on.
In view of the high inflation, the ECB has already raised its key interest rates significantly, albeit later than many other central banks. Further rate hikes are expected over the course of the year.
After North Korea launched an unidentified ballistic missile, Japan on Tuesday issued a warning urging some of its residents to go to shelters.
In view of the war in Ukraine and the energy crisis, the EU Commission is preparing for power cuts and other emergencies, including within the European Union. That says the responsible EU Commissioner Janez Lenarčič. 5 million iodine tablets have already been delivered to Ukrainians in the vicinity of nuclear power plants.
Who is behind the mysterious explosions of the two Nord Stream pipelines in the Baltic Sea? Almost all Western secret services assume acts of sabotage – and look in the direction of Russia. Moscow, on the other hand, blames the United States. For the former head of the Ukrainian gas company “Naftogaz”, however, it is clear that Putin is behind the action.
Also exciting:
Amazon Prime Day 2022 – the sequel: Prime subscribers can shop for exclusive bargains again as early as October. With the second Prime Day this year, Amazon heralds the pre-Christmas shopping season. There are even advance offers with up to 50% discount. Everything is included, from gas cookers to Amazon Echo models.