BERLIN (AP) -- German producer prices rose at their fastest annual pace for more than 26 years last month, pushed up by steep increases in oil and energy costs, government figures showed Friday.
The annualized producer price inflation rate accelerated to 6.7 percent in June from 6 percent in May, the Federal Statistical Office said. That was the highest level since March 1982, when the annual rate was 7.2 percent.
Producer prices for industrial products, a measure of price pressures at the factory gate, are seen as an important gauge of inflation before it reaches consumers.
A 28-percent annual increase in the cost of oil products, and a 17.9-percent overall rise in energy prices, were the main factor driving higher inflation last month, the statistics office said.
Producer prices were up 0.9 percent on the month in June.
