Business · Economy · 1 hr ago
German wholesale price growth slows to 0.4% in October
Germany's wholesale prices rose 0.4% in October, much more slowly than the 1.9% increase in September.
The monthly figure matched market forecasts.
But prices were 8.8% higher than a year earlier, slightly above September's annual increase of 8.7%.
The conflict in Iran and the Middle East pushed up energy costs, a main driver of the annual rise.
Mineral oil product prices were 47.6% higher year on year, while chemical product prices rose 18.6%.
These figures track prices charged by wholesalers and show that annual price growth remains elevated despite the monthly slowdown.
German wholesale prices rose 0.4 percent in October, down sharply from a 1.9 percent monthly increase in September.
The October monthly increase matched market forecasts, according to official data released on Nov. 13.
Annual wholesale selling prices rose 8.8 percent in October, compared with 8.7 percent in September.
The annual increase was primarily driven by the conflict in Iran and the Middle East, which pushed up energy product prices.
Mineral oil product prices rose 47.6 percent year-on-year, while chemical product prices increased 18.6 percent.
- Who
- Germany’s wholesale market, as measured by the Federal Statistical Office (Destatis).
- What
- Wholesale prices rose 0.4 percent month-on-month in October, while annual wholesale selling prices increased 8.8 percent.
- When
- October; the official data was released on Nov. 13.
- Where
- Germany.
- Why
- The annual price surge was primarily driven by the conflict in Iran and the Middle East, which pushed up wholesale energy prices.
This story does not have two clearly opposing sides.
German wholesale prices increased 1.9 percent month-on-month, and annual wholesale selling prices rose 8.7 percent.
Monthly wholesale prices increased 0.4 percent, while annual wholesale selling prices rose 8.8 percent.
Official data on German wholesale prices was released.
- Monthly increase in October
- 0.4 percent
- Monthly increase in September
- 1.9 percent
- Annual increase in October
- 8.8 percent
- Mineral oil product prices
- Up 47.6 percent year-on-year
- Chemical product prices
- Up 18.6 percent year-on-year