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Financial News: Germany Wholesale Prices Continue To Fall

Germany Wholesale Prices Continue To Fall

03/13/2024 - 04:10:00 (RTTNews)

(RTTNews) - Germany's wholesale prices continued to decline in February, data from Destatis showed on Wednesday.

Wholesale prices dropped 3.0 percent on a yearly basis, sharper than the 2.7 percent fall in January. Wholesale prices have been falling since April 2023.

Month-on-month, wholesale prices edged down 0.1 percent, offsetting the 0.1 percent rise in January. Prices were expected to grow 0.2 percent.

Data showed that the annual fall in petroleum prices had the greatest impact on overall wholesale prices. Petroleum product prices decreased 3.5 percent annually but grew 0.3 percent on month.

On the other hand, wholesale prices for fruit, vegetables and potatoes advanced 7.3 percent annually.

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