Wholesale prices in Germany show soft decline, led by chemical products

(MENAFN) Germany's wholesale prices recorded a soft decline in April, marking the smallest decrease in eight months, according to data released on Tuesday by the statistical office Destatis. The figures revealed a 1.8 percent drop compared to the same period a year earlier, a slight improvement from the revised 2.6 percent decline observed in March. This data underscores the ongoing trend of price decreases, marking the 12th consecutive month of decline in wholesale prices in Germany.

The downturn in wholesale prices for April was primarily attributed to a significant 17.9 percent year-on-year fall in prices of chemical products, as highlighted by Destatis. Additionally, prices for various commodities experienced notable decreases, with grain, unmanufactured tobacco, seeds, and animal feeds declining by 12.2 percent. Metals and metal ores saw a 7.2 percent decrease, while waste and scrap prices fell by 6.8 percent. Moreover, prices for milk, milk products, eggs, edible fats, and oils recorded a decline of 6.3 percent year-on-year.

Despite the overall decline in wholesale prices on an annual basis, there was a slight uptick in prices on a monthly basis. Wholesale prices rose by 0.4 percent in April compared to the previous month, following a 0.2 percent increase observed in March. This monthly increase suggests some stabilization in prices, albeit modest, indicating potential shifts in market dynamics and demand-supply balances within the wholesale sector in Germany.



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