Wholesale prices in Germany fell 1.1 per cent year-on-year in August, the country’s statistics office said on Monday.
The figure followed a 0.1 per cent year-on-year decline in July, Destatis data showed.
The main reason for the year-on-year decline in wholesale prices (total) in August 2024 was the decline in prices in wholesale petroleum products (-7.7 per cent), which fell by 3.1 per cent compared to July 2024. Wholesale prices of live animals (-8.3 per cent), iron, steel and semi-finished ferrous metal products (-6.5 per cent) and chemical products (-5.8 per cent) also declined year-on-year.
In contrast, wholesale prices of coffee, tea, cocoa and spices were higher (+19.6%) than in August 2023, as were wholesale prices of non-ferrous metal ores, non-ferrous metals and non-ferrous metal semi-finished products (+14.7%). At the wholesale level, waste and scrap (+14.4%), sugar, confectionery and bakery products (+9.3%) and tobacco products (+5.2%) also rose in price in August 2024 compared with a year earlier.
On a month-on-month basis, wholesale prices in Germany fell 0.8% in August.
