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German PPI Touches Five-Year Peak in February

Germany's producer prices reached a five-year peak in February, mirroring the path currently trailed by the consumer price inflation.

Official readings show that yearly producer price inflation gained 3.1% in February from 2.4% in January. Last month, inflation was boosted by escalating energy prices, which was 5.4% more costly than a year ago.

Higher PPI comes following a faster than anticipated consumer price inflation that touched 2.2% in the previous month, its highest since 2012, and higher than the ECB's target of lower than 2%.

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