German wholesale prices rose both year-on-year and month-on-month in September

In September, German wholesale prices rose by 1.2 percent annually, the fastest pace in six months, after rising by 0.7 percent a month earlier, in August.

In September, wholesale prices in Germany increased year-on-year for the tenth consecutive month.

According to a statement from Destatis, the main contributor to the annual increase in wholesale prices in September was the fact that the wholesale prices of food, beverages and tobacco products rose by an average of 4.2 percent year-on-year.

The wholesale prices of coffee, tea, cocoa and spices increased significantly, by 22.2 percent, while sugar, confectionery and bakery products increased by 14.3 percent, and milk, dairy products, eggs and edible fats and oils by 5.6 percent in a year.

The prices of ores, metals and finished products made from them, excluding iron, increased by 23.5 percent on an annual basis in the ninth month of the year.

In September, wholesale prices rose by 0.2 percent on a monthly basis, in line with analysts’ expectations, after a 0.6 percent decrease was recorded in August.