German wholesale prices climb 9.7% in May

(MENAFN) On Friday, June 11, the Federal Statistical Office (Destatis) said that German wholesale sales prices rose 9.7% last month compared to the same month of the year last, the largest annual increase since July 2008.

Destatis said in a press release that the upward trend “has accelerated further”. During the month of March, wholesale prices climbed 4.4% per year and 7.2% in April.

Destatis said petroleum products were 46.8% more expensive year over year and had the biggest influence on the country’s wholesale price indicator last month.

With the largest increase in prices, waste and residual materials climbed 64.6%. Prices for ores, metals and semi-finished metal products rose 41.2 percent, while timber was also “considerably more expensive” in the country.

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