Food prices rose by 2.8 percent in Germany

By: Trademagazin Date: 2024. 01. 19. 11:02

In Germany, producer prices fell by 8.6 percent year-on-year in December, more than the 8 percent market expectation and more significantly than the 7.9 percent fall in November, the German Federal Statistical Office, Destatis, announced on Friday.

In December, a decrease was recorded for the sixth month. Energy prices fell by 23.5 percent year-on-year, the price of electricity fell by 35.6 percent, that of natural gas by 22.4 percent, and that of mineral oil products by 6.7 percent.

The price of intermediate products decreased by 3.7 percent, especially due to the 9.4 percent price drop of metals and 10.4 percent of chemical raw materials.

Meanwhile, non-durable consumer goods rose in price by 3.2 percent compared to December 2022, food prices increased by 2.8 percent.