BERLIN (Reuters) -German producer prices rose in August at their strongest rate since records began in annual and monthly terms.

Producer prices of industrial products increased by 45.8% in the same month last year, the Federal Statistical Office reported on Tuesday.

According to a Reuters poll, the surge was considerably stronger than expected, with analysts having forecast a 37.1% year-on-year rise and a 1.6% monthly rise.

Energy prices in August, on average, were over double the same period last year, up 139%, and 20.4% higher than the previous month, the office reported.

Europe's largest economy is rising at 8.8%, as a shortage in Russian fossil fuel deliveries following the invasion of Ukraine has led to skyrocketing energy prices.

Producer prices for electricity rose 174.9% compared with August 2021 and 26.4% compared with the previous month.

Producer prices for intermediate goods rose significantly, up 17.5% on the year, driven mainly by a 19.9% surge in metals prices.

It's reported that consumer price inflation will likely reach new record levels in the months ahead.