Germany's wholesale prices decline in November
Date
12/14/2024 4:33:05 AM
(MENAFN)
Germany's wholesale prices fell by 0.6 percent year-on-year in November, according to a statement from the federal statistical office released on Friday.
When compared to October, wholesale prices remained unchanged, as noted by Destatis.
The office also pointed out that in October, wholesale prices had dropped by 0.8 percent on a yearly basis.
The primary factor behind the year-on-year decline in November was the reduced prices for mineral oil products, which saw a decrease of 10.9 percent, the office explained.
It further noted, "Year on year, lower prices were also reported in the wholesale of computers and peripheral equipment (-6.3 percent), iron, steel and ferrous semi-finished metal products (-5.4 percent) and flat glass (-3.9 percent).”
In contrast, prices for wholesale coffee, tea, cocoa, and spices rose by 25.4 percent compared to November 2023, as did the prices for non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products, which increased by 22.7 percent.
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