By Nina Adam
FRANKFURT-Inflationary pressure in Europe's largest economy increased further in February, as prices at Germany's factory gates recorded their strongest annual rise in over ?five? years.
Germany's statistics office, Destatis, said Monday that producer prices rose 0.2% from January and increased 3.1% on the year--the strongest year-over-year increase since December 2011.
As in previous months, energy price developments had the biggest effect on the overall index, Destatis said, although prices in the category developed unevenly.
Prices for light heating oil jumped 52.5% from February 2016, while prices for diesel fuel and electricity were up 21.2% and 9.6%, respectively. Natural gas prices, however, ?dropped 7.5% from February 2016.
Excluding energy prices, which can be volatile, producer prices rose 0.3% on the month and increased 2.2% on the year.
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(END) Dow Jones Newswires
March 20, 2017 03:34 ET (07:34 GMT)
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