Germany's wholesale prices decline by 0.6 percent annually in November
Date
12/15/2024 6:46:12 AM
(MENAFN) Germany's wholesale prices saw a slight decrease of 0.6 percent on a year-over-year basis in November, as reported by the federal statistical office, Destatis, on Friday. This drop follows a 0.8 percent decrease in October. On a monthly basis, however, wholesale prices remained unchanged compared to October, suggesting a stabilization in the overall market after previous declines. These figures highlight a continuation of the downward trend in wholesale prices observed earlier in the year.
The main factor behind the year-on-year drop in November was a significant reduction in the wholesale prices of mineral oil products, which fell by 10.9 percent. This decline was substantial enough to drive the overall decrease in wholesale prices. Other sectors also contributed to the overall drop, including computers and peripheral equipment, which saw a decrease of 6.3 percent, as well as iron, steel, and ferrous semi-finished metal products, which dropped by 5.4 percent. Prices for flat glass also declined by 3.9 percent year-over-year.
In contrast to these price reductions, some products experienced notable price increases. The wholesale prices of coffee, tea, cocoa, and spices surged by 25.4 percent in November compared to the previous year, marking a significant jump in the cost of these goods. Similarly, prices for non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products rose by 22.7 percent, indicating strong demand or supply constraints in these categories.
These mixed trends in wholesale prices reflect the ongoing fluctuations in various sectors of the German economy. While some key commodities have become more expensive, driven by factors such as increased global demand or supply chain disruptions, others have seen significant price reductions, particularly in industries such as mineral oil and metals. These price changes underscore the complexity of the current economic environment, where both inflationary and deflationary pressures are at play.
MENAFN15122024000045015839ID1108994647
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.