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German producer prices rise 0.5pc in January

By Josh White

Date: Thursday 20 Feb 2025

German producer prices rise 0.5pc in January

(Sharecast News) - Germany's producer prices rose 0.5% in January compared to the same month in 2024, according to fresh data released on Thursday by the Federal Statistical Office, Destatis.
The annual increase was mainly driven by higher prices for non-durable consumer goods, capital goods, and durable consumer goods.

However, producer prices edged down by 0.1% from December 2024.

Energy prices declined both year-on-year and on the month, offsetting some of the overall price gains.

In January, energy prices were 1% lower than a year earlier and 0.9% below December levels.

Electricity prices saw a year-on-year decline of 1.8%, while natural gas prices dropped 1.9%.

In contrast, mineral oil products became more expensive, with heating oil prices rising 1.9% compared to January 2024 and 10.1% from the prior month.

Non-durable consumer goods recorded a 3% annual price increase, with food prices rising 3.5%.

Butter and confectionery saw substantial price hikes of 39.8% and 24.0%, respectively, compared to January last year.

However, sugar, pork, and cereal flour prices fell year-on-year.

Durable consumer goods were 1.1% more expensive than a year earlier, while capital goods rose by 1.9%, with machinery and vehicle prices contributing to the increase.

Intermediate goods saw a slight price decline of 0.1% on the year, with prices remaining stable from December.

Notable declines were seen in glass products, prepared animal feeds, and iron and steel products.

However, price increases were recorded for materials such as stone, gravel, and sand, as well as electric transformers and wood products.

Reporting by Josh White for Sharecast.com.

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