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Germany Posts 1.2 Percent Increase in September Wholesale Prices
(MENAFN) Wholesale prices in Germany increased by 1.2% in September compared to the same month last year, driven largely by steeper costs in the food and beverage sector, according to data released Monday by the country’s federal statistics agency, Destatis.
The rise was largely attributed to a 4.2% year-on-year surge in prices for food, beverages, and tobacco products.
Destatis reported: "The wholesale prices particularly of coffee, tea, cocoa and spices were much higher than a year earlier (+22.2%)," noting a substantial spike in prices for those staple commodities. The agency added: "Sugar, confectionery and bakery products also cost more than in the same month of the previous year (+14.6%)."
Significant year-over-year price hikes were also recorded in various animal products. "Considerably higher year-on-year prices were also recorded for live animals (+10.7%), meat and meat products (+10.5%) and milk, milk products, eggs, edible fats and oils (+5.6%)," the statement said.
On a month-to-month basis, wholesale prices edged up 0.2% from August.
The rise was largely attributed to a 4.2% year-on-year surge in prices for food, beverages, and tobacco products.
Destatis reported: "The wholesale prices particularly of coffee, tea, cocoa and spices were much higher than a year earlier (+22.2%)," noting a substantial spike in prices for those staple commodities. The agency added: "Sugar, confectionery and bakery products also cost more than in the same month of the previous year (+14.6%)."
Significant year-over-year price hikes were also recorded in various animal products. "Considerably higher year-on-year prices were also recorded for live animals (+10.7%), meat and meat products (+10.5%) and milk, milk products, eggs, edible fats and oils (+5.6%)," the statement said.
On a month-to-month basis, wholesale prices edged up 0.2% from August.

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