Wholesale price growth in Germany slowed on a monthly basis, but accelerated on an annual basis in February

Wholesale prices in Germany rose by 0.6 percent, exceeding analysts’ expectations, compared to January, when they recorded a 0.9 percent increase. Experts had expected a monthly increase of 0.2 percent for February.

According to the Destatis report, wholesale prices rose by 1.6 percent in February this year compared to February 2024, after a 0.9 percent increase in January.

The largest price increase in February, 4.4 percent, was recorded for food, beverages and tobacco. The wholesale prices of coffee, tea, cocoa and spices were 43.8 percent higher than a year earlier, and those of sugar, sweets and bakery products were 14.9 percent higher. Milk, dairy products, eggs, edible fats and oils also rose significantly, costing 8.1 percent more than a year ago in February.

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 mineral 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.