BERLIN (dpa-AFX) - Germany's wholesale prices increased for the first time in twenty months in December, data from Destatis revealed on Wednesday.
Wholesale prices rose 0.1 percent year-on-year in December, reversing a 0.6 percent drop in November. Further, this was the first increase since May 2023.
The slight increase in December was mainly driven by the spike in prices for non-ferrous ores, non-ferrous metals, and semi-finished products made from them, where prices were 22.3 percent more expensive compared to last year.
Data showed a 34.3 percent surge in wholesale prices of coffee, tea, cocoa, and spices in December. Meanwhile, prices in the area of data processing and peripheral equipment dipped by 6.0 percent.
On a monthly basis, wholesale prices also edged up 0.1 percent in December, following a flat change in November.
During the year 2024, the average annual rate of decline in wholesale prices was 1.3 percent compared to a 0.6 percent rise in 2023.
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