Producer prices in Germany increased by 10.4 percent in July

According to data from Germany's Federal Statistical Office (Destatis), Germany's producer price index rose 10.4 percent year on year and 19 percent on a monthly basis in July.

The annual increase in the index was driven by energy prices with an annual increase of 20.4 percent, intermediate goods prices with an increase of 15.6 percent and intermediate goods with a 1.8 percent increase.