Germany prices rise again in December
2023.01.16 07:10
Germany prices rise again in December
By Tiffany Smith
Budrigannews.com – According to data released on Monday, Germany’s wholesale price index increased in December compared to the same month last year, albeit at a slower rate than in previous months.
The federal statistics office reported that wholesale prices increased by 12.8% for the year, compared to a reading of 14.9% in November. With an increase of 23.8% year-over-year, wholesale price growth reached its highest point in April.
December saw a 1.6% decrease in the index when compared to November 2022.
Rising costs of raw materials and intermediate goods are the primary contributors to high wholesale prices. According to Destatis, the prices of mineral oil products increased by 22.8 percent in December compared to December 2021, causing the largest impact on the wholesale price index.
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