Wholesale prices in Germany fell month-on-month, but rose year-on-year in May

Wholesale prices in Germany fell by 0.3 percent compared to April, when a more modest 0.1 percent decrease was recorded.

According to the Destatis report, the increase in wholesale prices slowed to 0.4 percent compared to May last year, from 0.8 percent in April.

The largest price increase in May, 4.3 percent, was recorded for food, beverages and tobacco.

The wholesale price of coffee, tea, cocoa and spices was 38.4 percent higher than a year earlier, and that of sugar, confectionery and bakery products was 17.1 percent higher. Milk, dairy products, eggs, edible fats and oils also became significantly more expensive, costing 8.9 percent more than a year ago.

In Germany, wholesale prices fell by an annual average of 1.3 percent last year compared to 2023, with a 5.4 percent drop in the price of oil products in particular playing a role. The wholesale prices of coffee, tea, cocoa and spices rose the most last year, by an average of 15.6 percent compared to a year earlier.