Germany’s Wholesale Inflation Climbs to Highest Level Since Early 2023
(MENAFN) Germany’s annual wholesale inflation rate rose to 8.7% in September, reaching its highest level since February 2023 as rising energy costs pushed prices higher across several sectors, official data showed Wednesday.
The rate accelerated from 6.8% in August and 5.3% in July, while wholesale prices increased by 1.9% compared with the previous month.
The Federal Statistical Office attributed the sharp rise largely to the conflict in Iran and broader tensions across the Middle East, which drove up the cost of energy products and intermediate goods, particularly metals.
Mineral oil products recorded the steepest increase among the reported categories, with prices surging 48.8% compared with September last year and climbing 10.5% from August. The increase highlights the pressure that higher energy costs are placing on Germany’s wholesale market.
Prices for non-ferrous ores, metals and related semi-finished products also rose substantially, increasing 24.9% year-on-year. Grain, unmanufactured tobacco, seeds and animal feed recorded a combined increase of 19.3% over the same period.
Chemical products became 16.4% more expensive than a year earlier, while prices for computers and peripheral equipment rose by 12.1%, indicating that inflationary pressures extended beyond energy and raw materials.
However, not all wholesale categories experienced price increases. Live animal prices declined 15.1% year-on-year, marking the largest decrease among the categories highlighted in the report.
Prices for milk, dairy products, eggs, edible fats and oils fell by 9.7%, while meat and meat products recorded a 6% annual decline.
The latest figures point to renewed cost pressures in Germany’s wholesale sector, with energy and industrial materials accounting for significant increases while several agricultural and food-related categories moved in the opposite direction.
The rate accelerated from 6.8% in August and 5.3% in July, while wholesale prices increased by 1.9% compared with the previous month.
The Federal Statistical Office attributed the sharp rise largely to the conflict in Iran and broader tensions across the Middle East, which drove up the cost of energy products and intermediate goods, particularly metals.
Mineral oil products recorded the steepest increase among the reported categories, with prices surging 48.8% compared with September last year and climbing 10.5% from August. The increase highlights the pressure that higher energy costs are placing on Germany’s wholesale market.
Prices for non-ferrous ores, metals and related semi-finished products also rose substantially, increasing 24.9% year-on-year. Grain, unmanufactured tobacco, seeds and animal feed recorded a combined increase of 19.3% over the same period.
Chemical products became 16.4% more expensive than a year earlier, while prices for computers and peripheral equipment rose by 12.1%, indicating that inflationary pressures extended beyond energy and raw materials.
However, not all wholesale categories experienced price increases. Live animal prices declined 15.1% year-on-year, marking the largest decrease among the categories highlighted in the report.
Prices for milk, dairy products, eggs, edible fats and oils fell by 9.7%, while meat and meat products recorded a 6% annual decline.
The latest figures point to renewed cost pressures in Germany’s wholesale sector, with energy and industrial materials accounting for significant increases while several agricultural and food-related categories moved in the opposite direction.
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