German Producer Prices rise 0.8% YoY in Dec. ’24

Producer prices for industrial products in Germany rose 0.8 per cent in December 2024 year-on-year but fell 0.1 per cent compared to previous month, according to the Federal Statistical Office (Destatis).

The rate declined by 1.8 per cent on average for the year compared to 2023.

The December increase was driven by higher prices for capital goods and consumer goods, while energy prices fell by 0.2 per cent. Excluding energy, prices were up 1.2 per cent compared to December 2023.

Energy prices dropped 6.2 per cent on average in 2024, with natural gas and electricity leading the decline.

Meanwhile, capital goods rose 2.2 per cent for the year, and consumer goods increased 1.0 per cent, with notable food price spikes for butter and confectionery.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser