Wholesale prices down 0.6% in Germany last month

ISTANBUL

Germany's wholesale prices decreased by 0.6% on a yearly basis in November, the federal statistical office said in a statement released on Friday.

On a monthly basis, wholesale prices were flat with October, Destatis noted.

In October, wholesale prices had dropped by 0.8% year-on-year the office reminded.

The main reason for the year-on-year decrease in wholesale prices in November were weaker prices in the wholesale of mineral oil products, down 10.9%, it said.

It added: "Year on year, lower prices were also reported in the wholesale of computers and peripheral equipment (-6.3%), iron, steel and ferrous semi-finished metal products (-5.4%) and flat glass (-3.9%).

"By contrast, the wholesale prices of coffee, tea, cocoa and spices were higher (+25.4%) than in November 2023, as were the wholesale prices of non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products (+22.7%)."