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Financial News: German Wholesale Prices Rise Most Since 2017

German Wholesale Prices Rise Most Since 2017

04/13/2021 - 04:04:00 (RTTNews)

(RTTNews) - Germany's wholesale price rose for a second straight month and at the fastest pace in four years in March, largely led by higher prices for petroleum products.

The wholesale price index rose 4.4 percent year-on-year, which was the fastest pace since March 2017, when they increased 4.8 percent, data from Destatis showed Tuesday.

The wholesale prices grew 2.3 percent in February and were unchanged in January.

Prices for petroleum product jumped 13.7 percent from a year ago. Strong price increases were also seen for wholesale trade for scrap and residual materials, for ores, metals and semi-finished metal products, and for grain, raw tobacco, seeds and animal feed.

Meanwhile, live animals, meat and meat products as well as data processing equipment, peripheral devices and software were cheaper.

On a month-on-month basis, the wholesale prices rose 1.7 percent following a 1.4 percent increase in February.

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