In December 2024, wholesale trade prices in Germany rose by 0.1% compared to the same month in 2023, according to data from the Federal Statistical Office (Destatis). This marks a slight rebound after a 0.6% drop in November 2024 and a 0.8% decrease in October 2024. Additionally, prices increased by 0.1% from November 2024 to December 2024.
The primary driver of the year-on-year price increase in December was the wholesale of non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products, which saw a significant rise of 22.3%. Coffee, tea, cocoa, and spices also experienced substantial price hikes, climbing by 34.3%. Other notable increases were seen in the wholesale of sugar, confectionery, and bakery products (+11.0%), as well as in milk, milk products, eggs, edible fats, and oils (+5.7%).
Wholesale Prices in Germany Rise by 0.1% in December 2024
On the other hand, there were declines in wholesale prices for certain products in comparison to December 2023. The prices for computers and peripheral equipment dropped by 6.0%, as did the prices for mineral oil products, which fell by 6.0% year-on-year, though they rose slightly by 0.3% compared to November 2024. Additionally, wholesale prices for iron, steel, and ferrous semi-finished metal products were 4.9% lower than in December 2023.
Looking at the overall trend for 2024, wholesale prices on an annual average decreased by 1.3% compared to 2023. In contrast, 2023 had seen a 0.6% increase in prices from the previous year. Notably, the decrease was largely due to lower prices in the wholesale of mineral oil products (-5.4%) and iron, steel, and ferrous semi-finished metal products (-10.0%). However, coffee, tea, cocoa, and spices saw a significant price increase (+15.6%) on an annual average, as well as non-ferrous ores, metals, and semi-finished metal products (+11.8%) and sugar, confectionery, and bakery products (+8.4%).
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