They registered the biggest monthly drop since December 2008
16 Jan. () –
Wholesale prices in Germany registered a year-on-year rise of 12.8% in December 2022, thus slowing down their rise from 14.9% in November and 17.4% in October, as reported by the Federal Statistical Office (Destatis ).
The rise in wholesale prices in Germany in December represents the smallest year-on-year increase since August 2021. The reference registered a year-on-year rise of 23.8% in April 2022, the highest in the entire historical series, which dates back to 1962.
Thus, the average annual increase for the whole of 2022 was 18.8%.
However, in monthly terms, in December the wholesale prices of the largest European economy registered a drop of 1.6%, after the drop of 0.9% observed in November, which represents the largest monthly drop since December 2008.
The high annual rate of change in wholesale prices in Germany was mainly due to the increase in the prices of raw materials and intermediate products.
The greatest impact on the annual variation rate in December 2022 was due to the increase in prices in the wholesale trade of petroleum products (+22.8%). Particularly pronounced price increases compared to December 2021 were observed in the wholesale trade of solid fuels (+82.3%), as well as in that of live animals (+47.6%).