Financial News: German Wholesale Prices Fall 0.6% In November

German Wholesale Prices Fall 0.6% In November

12/13/2024 - 03:03:00 (RTTNews)

(RTTNews) - Germany's wholesale prices continued to decline in November, though at a slightly slower pace, data from Destatis revealed on Friday.

Wholesale prices decreased 0.6 percent year-on-year in November, slower than the 0.8 percent drop in October. Wholesale prices have been falling since May 2023, and the latest drop was the weakest in four months.

Data showed a 10.9 percent plunge in wholesale prices of mineral oil products. Prices in the wholesale trade of data processing and peripheral equipment fell 6.4 percent, and costs for iron, steel, and semi-finished products slid by 5.4 percent.

On a monthly basis, wholesale prices remained flat in November, following a 0.4 percent rise in October.

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