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German wholesale prices +8.9% YoY on February 2022

The selling prices in wholesale trade were 8.9% higher in February 2023 than in February 2022. The annual rates of change in January 2023 and in December 2022 had been +10.6% and +12.8%, respectively. The Federal Statistical Office (Destatis) reports that, compared with the previous month, wholesale prices slightly increased by 0.1% in February 2023.

The high annual rate of change for wholesale prices mainly derives from increased prices for food, beverages and tobacco (+16.8%), especially for milk, dairy products, eggs, edible oils and fats (+25.6%), meat and meat products (+21.4%), sugar, confectionery and bakery products (+21.4%) as well as for fruit, vegetables and potatoes (+18.2%). Also living animals (+51.0%), building materials and elements (+21.9%) and Machines, equipment and supplies (+11.3%) had a large impact on the annual rate of change in February 2023.

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