Germany’s wholesale prices down 2.6% in December 2023

ISTANBUL

Wholesale prices in Germany fell 2.6% year-on-year and 0.6% month-on-month in December 2023, according to official data released on Monday.

Germany’s federal statistical bureau Destatis said on Monday that mineral oil products caused the yearly decline in wholesale prices, down 9.8% year-on-year in December 2023.

Lower prices were seen in grain, unmanufactured tobacco, seeds, animal feeds (minus 19.7%), chemical products (minus 19%), metals and metal ores (minus 12.7%), and waste and scrap (minus 7.6%), it said.

However, “prices were higher year-on-year for fruit, vegetables and potatoes (+13.9 %) and sugar, confectionery and bakery products (+8.9 %), beverages (+7.1 %), and tobacco (+5.8 %),” it added.

Additionally, the wholesale prices on a monthly basis fell 0.6%.