German Producer Prices, January 2024: -4.4% (YoY)

08 March 2024

The producer prices of industrial products were 4.4% lower in January 2024 than in January 2023. This is the first result following the rebasing of the index of producer prices of industrial products to the new base year 2021.

In December 2023, the year-on-year change rate was -5.1% using 2021 as the base year (base year 2015: -8.6%). The Federal Statistical Office (Destatis) also reports that producer prices in January 2024 rose by 0.2% on December 2023.

In January 2024, lower energy prices continued to be the main reason for the year-on-year decline in producer prices. Intermediate goods were also less expensive than in January 2023, whereas consumer and capital goods were more expensive.

Source: Destatis
Post by: Republic of Türkiye Ministry of Trade