Economic Buzz: Wholesale Prices Surge 23.8% In Germany

16 May 2022 , 02:25 PM

In April 2022, the selling prices in wholesale trade in Germany rose by 23.8% compared with April 2021. As reported by the Federal Statistical Office (Destatis), this was the highest annual rate of change since the beginning of the calculation of the wholesale price indices in 1962. The annual rates of change in February 2022 and in January 2022 had been +22.6% and +16.6%, respectively. The high annual rate of change for wholesale prices mainly derives from increased prices for raw materials and intermediate products. The largest impact on the annual rate of change in April 2022 had the price increase in wholesale trade of mineral oil products (+63.4%). The high price increase in wholesale trade of solid fuels (+70.9%), grain, unmanufactured tobacco, seeds etc. (+56.3%) as well as metals and metal ores (+55.7%) also contributed to the high rate of change in March 2022. Powered by Commodity Insights