Germany’s producer prices up in Jan. ’25

Germany’s producer prices for industrial products rose by 0.5 per cent year-on-year in January 2025, down from 0.8 per cent in December, while declining 0.1 per cent from the previous month, the Federal Statistical Office (Destatis) reported.

The annual increase was primarily driven by higher prices for consumer goods, with food prices up 3.5 per cent.

Butter prices surged 39.8 per cent year-on-year, while confectionery rose 24.0 per cent and beef climbed 18.0 per cent. However, prices for sugar and pork saw notable declines. Capital goods and durable consumer goods also saw price increases of 1.9 per cent and 1.1 per cent, respectively.

Energy prices fell 1.0 per cent year-on-year, with electricity down 1.8 per cent and natural gas 1.9 per cent lower. In contrast, petroleum product prices increased 0.7 per cent, with heating oil rising 1.9 per cent and motor fuel up 0.5 per cent.

Intermediate goods prices dipped slightly by 0.1 per cent from January 2024, though specific sectors saw gains. Flat glass prices jumped 16.4 per cent, while copper and semi-finished products rose 9.4 per cent. However, pig iron, steel, and ferroalloys dropped 8.9 per cent.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser