Germany’s wholesale prices drop in Sept. ’24

Germany’s wholesale prices fell by 1.6 per cent in September 2024 compared to the same month in 2023, according to a data from the Federal Statistical Office (Destatis).

The decline follows decreases of 1.1 per cent in August 2024 and 0.1 per cent in July 2024. Month-over-month, wholesale prices dropped by 0.3 per cent in September 2024.

The main factor behind the year-on-year decline was a sharp decrease in the prices of mineral oil products, which fell by 14.6 per cent.

In contrast, the prices of coffee, tea, cocoa, and spices rose by 24.2 per cent, while non-ferrous metals increased by 15.8 per cent.

Sugar, confectionery, and bakery products also saw a 9.4 per cent per cent rise, highlighting areas of inflation in the wholesale market.