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Financial News: Germany Wholesale Price Inflation Moderates In December

Germany Wholesale Price Inflation Moderates In December

01/12/2022 - 06:49:00 (RTTNews)

(RTTNews) - Germany's wholesale price inflation moderated in December but remained at an elevated level, data from Destatis showed on Wednesday.

Wholesale prices increased 16.1 percent year-on-year in December, following November's 16.6 percent increase, the fastest growth since 1962.

The annual price growth reflects the sharp rise in prices for raw materials and intermediate products. Wholesale prices of petroleum products surged 50.6 percent in December.

On a monthly basis, wholesale price inflation eased to 0.2 percent from 1.3 percent in the previous month.

Data showed that sales prices in wholesale were 9.8 percent higher on average in 2021 than in 2020. This was the biggest annual increase since 1974. The annual growth was driven by the 32.0 percent surge in petroleum product prices. The statistical office cited low base effects as another reason for higher wholesale price inflation.

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