Financial News: German Wholesale Prices Fall 3.0%

German Wholesale Prices Fall 3.0%

04/16/2024 - 03:13:00 (RTTNews)

(RTTNews) - Germany's wholesale prices continued to decline in March, and at a steady pace, data from Destatis showed on Tuesday.

Wholesale prices dropped 3.0 percent on a yearly basis, the same as in February. Wholesale prices have been falling since April 2023.

Month-on-month, wholesale prices rebounded 0.2 percent in March, following a 0.1 percent drop in the prior month. Prices were expected to grow 0.1 percent.

Data showed that the annual fall in petroleum prices had the greatest impact on overall wholesale prices. Petroleum product prices decreased 3.3 percent annually but grew 0.7 percent on month.

Meanwhile, wholesale prices for tobacco products grew 5.8 percent annually, and those for fruit, vegetables and potatoes were 4.4 percent more expensive.

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