German wholesale price index up 10.6% in January

BERLIN  – Germany’s wholesale price index rose in January compared with the same month last year, according to data released on Tuesday.

Wholesale prices increased by 10.6 percent on the year, the federal statistics office reported. Wholesale price growth peaked in April, with a 23.8 percent year-on-year increase.

High wholesale prices were driven mainly by increased prices for food, beverages and tobacco, which posted a 16.2 percent year on year increase in January.

The prices of solid fuels and mineral oil products also had a large impact on the annual rate of change, rising 13.1 percent year-on-year, according to the statistics office.

Compared with December 2022, the index saw a slight rise in January, up 0.2 percent.

The office offers more detailed economic data on its website.