Germany sees decline in wholesale inflation for 19th consecutive month in September


(MENAFN) Germany experienced a significant decline in wholesale inflation, with a rate of minus 1.6 percent recorded in September. This marks the 19th consecutive month of decline, as reported by the federal statistical authority, Destatis. In addition to the year-on-year decrease, wholesale prices also saw a monthly reduction of 0.3 percent. This ongoing downward trend is primarily attributed to weaker energy prices, which have been a significant factor influencing the wholesale market.

Among the various sectors affected by this decline, mineral oil products experienced the most notable drop, with prices falling by 14.6 percent compared to the previous year and decreasing by 4.5 percent on a month-to-month basis. Other categories also reported declines; for instance, the wholesale prices of live animals, as well as iron, steel, and ferrous semi-finished metal products, decreased by 5.8 percent each, while prices for computers and peripheral equipment fell by 5.2 percent. These reductions reflect broader market trends and consumer behavior in response to changing economic conditions.

However, not all sectors experienced downturns. Certain commodities, such as coffee, tea, cocoa, and spices, saw a notable increase in wholesale prices, rising by 24.2 percent compared to September 2023. Additionally, the prices for non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products rose by 15.8 percent. This divergence in price movements highlights the complexity of the wholesale market, where various factors can lead to both declines and increases across different product categories.

Overall, the data from Destatis indicates that while the wholesale market in Germany is generally experiencing deflationary pressures, there are specific areas that remain robust, particularly in agricultural products and certain metals. As inflation trends continue to evolve, the interplay between declining energy prices and rising costs in other sectors will be critical for understanding the broader economic landscape in Germany.

MENAFN15102024000045015839ID1108780294


MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.