German producer prices rise 6.7% in September as energy costs climb 14.9%

Destatis reported on 20 October 2026 that producer prices of industrial products sold in Germany rose 6.7% on the year in September. On the month they rose 1.9%, following August.

What is driving it

• Energy: up 14.9% on the year
• Excluding energy: up 3.2% on the year, and 0.1% on August
• Monthly change: +1.9%

The index covers goods made in Germany and sold in the domestic market. Energy accounts for most of the annual rise, so the increase is concentrated in one area rather than spread across industry.

Reading it

Producer prices can feed into consumer prices with a lag, although firms may absorb some of the cost. The energy-led rise in producer prices is a reason to watch the consumer price data, which showed 3.3% in September. The wholesale price report for the same month shows the same energy pattern.

For the euro area measure, see producer prices in August. For how energy feeds into headline prices, see energy inflation explained. Live prices: EUR/USD.