Germany's wholesale price index rose sharply in March

According to the report from Destatis, in March 2021 the selling prices in wholesale trade rose by 4.4% compared with March 2020. The most recent price increase compared to the previous year was in April 2017 (+4.8 %). In February 2021 the annual rate of change had been 2.3%, in January 2021 the index had not changed compared with January 2020. From February 2021 to March 2021 the index rose by 1.7%.

The biggest impact on the rate of change in the wholesale price index compared to the same month of the previous year was the increase in the wholesale price of petroleum products (+13.7%).

However, there were particularly strong price increases compared to the previous year in the wholesale trade of waste materials and residual materials (+76.3 %) as well as ores, metals and semi-finished metal products, with an increase of 20.9% compared to March 2020. Cereals, raw tobacco, seeds and animal feed were also significantly more expensive (+19.8%) compared to the previous year.

On the other hand, prices for live animals (-21.4%) were lower at wholesale level than in March 2020. However, since the beginning of 2021, live animals have become more expensive due to demand, up 14.5% on February 2021 alone.Compared with March 2020 cheaper including meat and meat products (-5,3 %), as well as data processing equipment, peripheral equipment and software (-5,0%).