Germany's Wholesale Prices Decline for 12th Consecutive Month

Germany's wholesale prices experienced a notable decline of 3% year-on-year in March, marking the 12th consecutive month of decrease, according to official figures from Destatis. This downward trend was accompanied by a slight increase of 0.2% from February, as revealed by the Federal statistical authority's data.

The primary factor contributing to the annual drop in wholesale prices was the decrease in prices of mineral oil products, which were down by 3.3% compared to the previous year. Additionally, significant year-on-year decreases were observed in the prices of grain, unmanufactured tobacco, seeds, animal feeds (decreased by 19.8%), metals, metal ores (decreased by 13.6%), chemical products (decreased by 13.1%), and waste and scrap (decreased by 6.4%), as highlighted by Destatis.

On the other hand, certain products saw price increases in March. Tobacco products experienced a notable rise of 5.8% compared to the same period last year, while prices of fruit, vegetables, potatoes increased by 4.4%, and beverages by 4.2%.

In conclusion, Germany's wholesale prices continued their downward trajectory in March, with the 12th consecutive year-on-year decline. While some sectors experienced price increases, the overall trend reflects a challenging economic environment influenced by factors such as fluctuating oil prices and changing consumer demands.