Press release No. 161 of 12 April 2022

Wholesale selling prices, March 2022
+22.6% on the same month a year earlier
+6.9% on the previous month

WIESBADEN – In March 2022, the selling prices in wholesale trade rose by 22.6% compared with March 2021. As reported by the Federal Statistical Office (Destatis), this was the highest annual rate of change since the beginning of the calculation of the wholesale price indices in 1962. The annual rates of change in February 2022 and in January 2022 had been +16.6% and +16.2%, respectively.

The high rates of change for wholesale prices mainly derive from increased prices for raw materials and intermediate products. These results refer to the reference date 5 March 2022 and should therefore contain first implications deriving from Russia’s attack on Ukraine.

The largest impact on the annual rate of change in March 2022 had the price increase in wholesale trade of mineral oil products (+70.2%). The high price increase in wholesale trade of solid fuels (+61.9%) as well as metals and metal ores (+55.8%) also contributed to the high rate of change in March 2022.

Highest monthly rate of change since 1962

From February 2022 to March 2022, the index rose by 6.9%. This was also the highest monthly rate of change since the beginning of the calculation in 1962. The remarkably high monthly rate of change in March 2022 was mainly influenced by increased prices in wholesale trade of mineral oil products (+26.5%).

In March 2022 the prices in wholesale trade of solid fuels (+18.3%), of agricultural raw materials and live animals (+18.0%) and of iron ores, iron, steel, ferrous products (+17.1%) were also considerably higher compared to February 2022.

More detailed data and long time series are available in table Index of wholesale prices (61281-0002 and 61281-0004) in the GENESIS-Online database.