By Maria Martinez

More German companies planned to raise their prices in September than in the previous month, the Ifo Institute said Wednesday.

According to the Ifo's latest survey, during the month 53.5% of German companies wanted to raise their prices, up from 48.1% in August.

"Unfortunately, this probably means the wave of inflation isn't about to subside," Timo Wollmershaeuser, head of forecasts at Ifo, said in the report. When it comes to gas and electricity in particular, the price pipeline hasn't yet been exhausted, he said.

In trade, 92.3% of drugstore-item sellers wanted to increase their prices, followed by 89.6% of sellers of flowers, plants, and pet products and 89.0% of toy stores.

Clothing manufactures were the front-runners in manufacturing, where 83.5% wanted to raise prices. For manufacturers of glass, ceramics, and stoneware, 77.3% of the companies wanted to increment prices.

The numbers were also very high in hospitality, as 87.4% of companies planned price increases. In the case of hotels, 62.4% planned to hike prices, the survey showed.

Write to Maria Martinez at maria.martinez@wsj.com

(END) Dow Jones Newswires

October 05, 2022 03:57 ET (07:57 GMT)

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