Germany's wholesale prices down year-on-year in September

DUBAI

Wholesale prices in Germany fell 4.1% in September, the largest year-on-year decline since May 2020, the country's statistical authority said on Monday.

Destatis said that the decline is stemmed from the base effect related to the impact of the Russia-Ukraine war on prices last year.

On a monthly basis, wholesale prices increased by 0.2% in the country.

"At 19.8%, the steep drop in prices in the wholesale of mineral oil products had the biggest impact on the overall development of wholesale prices in September 2023," it said, adding: "By contrast, fruit and vegetables (+19.7%) and sugar, confectionery and bakery products (+13.4%) were more expensive than in September 2022."