Home breadcru News breadcru Industrial breadcru German producer prices of industrial products rises 21.6% YoY in Dec

German producer prices of industrial products rises 21.6% YoY in Dec

22 Jan '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Germany’s index of producer prices for industrial products in December last year increased by 21.6 per cent over the figure in the same month in 2021, according to the Federal Statistical Office (Destatis), which recently said the price increase on producer level slowed down for the third time in succession. The year-on-year (YoY) rise was 28.2 per cent in n November and 34.5 per cent in October.

The overall index decreased by 0.4 per cent in December last year over the November figure.

Energy price hike was the main reason for the development, followed by significant price rises for consumer, intermediate and capital goods.

Energy prices as a whole were up by 41.9 per cent in December last year compared to the figure in the same month in 2021. Compared with the figure in November 2022, energy prices fell by 1 per cent in the month.

The price for electricity across all customer groups rose by 46.8 per cent during the month compared to December 2021.

ALCHEMPro News Desk (DS)

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