Germany's wholesale inflation at 14.9% in November

By Gokhan Ergocun

ISTANBUL (AA) - Germany's wholesale prices were up by 14.9% in November on a yearly basis, the federal statistical bureau Destatis said Thursday.

The rates were at 17.4% in October and 19.9% in September, the statistical authority said.

The wholesale prices were down by 0.9% on a monthly basis in November, Destatis added.

"The high annual rate of change for wholesale prices mainly derives from increased prices for raw materials and intermediate products," it said.

Destatis stressed that the largest impact on the annual whole inflation was mineral oil products, of which prices were up by 30.4% on a yearly basis.

"The high price increase in wholesale trade with solid fuels (+96.8%), as well as with grain, unmanufactured tobacco, seeds etc. (+21.2%) also contributed to the high rate of change in November 2022," it added.