German wholesale prices down for 19 months in row

By Gokhan Ergocun

ISTANBUL (AA) - Wholesale inflation in Germany was at minus 1.6% in September, marking the 19th consecutive decline, the federal statistical authority Destatis shared on Tuesday.

Wholesale prices also decreased by 0.3% on a monthly basis, according to the statistical office.

Weaker energy prices caused the ongoing downward trend in the country, while coffee and cocoa prices were higher.

The wholesale prices of mineral oil products decreased by 14.6% year-on-year in September and dropped by 4.5% on a monthly basis.

It noted: "Year on year, lower prices were also reported in the wholesale of live animals (-5.8%), iron, steel, and ferrous semi-finished metal products (-5.8%), and computers and peripheral equipment (-5.2%).

"By contrast, the wholesale prices of coffee, tea, cocoa, and spices were higher (+24.2%) than in September 2023, as were the wholesale prices of non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products (+15.8%)."