Press release No. 024 of 20 January 2020
Producer prices of industrial products, December and year 2019
+0.1% on the previous month
-0.2% on the same month a year earlier
+1.1% on an annual average in 2019 compared to 2018
WIESBADEN – In December 2019, the index of producer prices for industrial products decreased by 0.2% compared to the corresponding month of the preceding year. In November 2019 the annual rate of change all over had been -0.7%, as reported by the Federal Statistical Office (Destatis). Compared with the preceding month November 2019 the overall index slightly rose by 0.1% in December 2019.
In 2019, the index rose by 1.1% on an annual average from the preceding year.
In December 2019, energy prices as a whole decreased by 2.4% compared to December 2018 (-0.4% compared to November 2019). On an annual basis, prices of natural gas (distribution) decreased by 6.3% and prices of petroleum products by 3.4% whereas prices of electricity rose by 0.4%.
The overall index disregarding energy was 0.4% up on December 2018 and 0.2% on November 2019.
Prices of intermediate goods decreased by 1.8% compared to December 2018. Compared to November 2019 they slightly rose by 0.1% in December 2019. Prices decreased especially regarding secondary raw materials (-21.2%). Prices of metals fell by 4.0%, where especially prices of basic iron, steel and ferro-alloys decreased (-8.7%). By contrast, prices of precious metals increased by 19.8% compared to December 2018.
Prices of durable consumer goods were up 1.1%, prices of capital goods increased by 1.4%.
Prices of non-durable consumer goods increased by 3.6% compared to December 2018 (+0.9% on November 2019). Food prices were 5.1% up on December 2018. Pork prices increased by 41.5%, sugar prices by 7.5%. By contrast, prices of butter fell by 16.7% compared to December 2018. Prices for processed and preserved potatoes, which increased to a historic high after the dry summer in 2018, were 8.2 % down on December 2018 in December 2019. Prices for coffee fell by 4.3%.
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2018 | December | 104.7 | 2.7 | -0.4 |
| 2019 | January | 105.1 | 2.6 | 0.4 |
| February | 105.0 | 2.6 | -0.1 | |
| March | 104.9 | 2.4 | -0.1 | |
| April | 105.4 | 2.5 | 0.5 | |
| May | 105.3 | 1.9 | -0.1 | |
| June | 104.9 | 1.2 | -0.4 | |
| July | 105.0 | 1.1 | 0.1 | |
| August | 104.5 | 0.3 | -0.5 | |
| September | 104.6 | -0.1 | 0.1 | |
| October | 104.4 | -0.6 | -0.2 | |
| November | 104.4 | -0.7 | 0.0 | |
| December | 104.5 | -0.2 | 0.1 | |
| there of: | ||||
| Intermediate goods | 103.6 | -1.8 | 0.1 | |
| Capital goods | 104.9 | 1.4 | 0.0 | |
| Durable consumer goods | 105.7 | 1.3 | 0.0 | |
| Non-durable consumer goods | 108.2 | 3.6 | 0.9 | |
| Energy | 102.6 | -2.4 | -0.4 | |
Results on the annual average of 2019
In 2019, the development of electricity prices had the greatest impact on the development of the annual average of domestic producer prices. They were 7.0% up on the annual average of 2018. Prices of petroleum products fell by 2.4% and of natural gas (distribution) by 0.1%. Energy prices as a whole were 2.1% up compared to 2018.
Disregarding energy, producer prices rose by 0.8% compared to 2018 (+1.8% in 2018 compared to 2017).
Prices of non-durable consumer goods increased by 1.7%, food prices were up 2.1%. Whereas prices of pork rose by 17.3%, prices of butter where down 21.5%.
Prices of intermediate products decreased by 0.3% compared to 2018 (+2.7% in2018 compared to 2017). Prices of raw materials fell by 13.1% whereas prices of prefabricated wooden buildings rose by 5.5%.
More detailed data and long time series are available in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database.
