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- German producer price index sharply increased in December
German producer price index sharply increased in December
According to the report from the Federal Statistical Office (Destatis), in December 2020, the index of producer prices for industrial products increased by 0.2% compared with the corresponding month of the preceding year. In November the annual rate of change all over had been –0.5%. Compared with the preceding month November the overall index increased by 0.8% in December 2020 (+0.2% in November).
Prices of intermediate goods increased by 0.8% compared to December 2019. Prices increased especially regarding precious metals (+18.4%), metallic secondary raw material (+17.0%) and copper (+11.5%). Prices of durable consumer goods increased by 1.6% compared to December 2019, capital goods by 0.9%.
Energy prices as a whole decreased by 0.1% compared to December 2019 but increased by 2.3% compared to November 2020. On an annual basis, prices of petroleum products were down 13.5% and prices of natural gas (distribution) decreased by 3.3%. By contrast electricity prices increased by 5.9%.
The overall index disregarding energy was 0.3% up on December 2019.
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