Press release No. 521 of 18 December 2020
Producer prices of industrial products (domestic market), November 2020
+0.2% on the previous month
-0.5% on the same month a year earlier
WIESBADEN – In November 2020, the index of producer prices for industrial products decreased by 0.5% compared with the corresponding month of the preceding year. In October the annual rate of change all over had been –0.7%, as reported by the Federal Statistical Office. Compared with the preceding month October the overall index increased by 0.2% in November 2020 (+0.1% in October).
Energy prices as a whole decreased by 2.7% compared to November 2019 but increased by 0.4% compared to October 2020. On an annual basis, prices of petroleum products were down 16.7%, prices of natural gas (distribution) decreased by 5.2%. Electricity prices increased by 1.6%.
The overall index disregarding energy was 0.3% up on November 2019.
Prices of intermediate goods increased by 0.2% compared to November 2019. Prices increased especially regarding precious metals (+21.3%), metallic secondary raw material (+12.4%) and copper (+9.0%). By contrast, prices of paper and paperboard decreased by 4.8% compared to November 2019. Prices of basic chemicals were down 4.5% and of basic iron, steel and ferro-alloys 2.8%.
Prices of non-durable consumer goods decreased by 0.7% compared to November 2019. Food prices decreased by 1.6%. Pork prices were down 21.5%. After pork prices had reached their peak in December 2019 due to increasing demand from China, prices decreased subsequently by 28.5% until November 2020 and thus approached the level of February 2019. The reason is probably not only the lack of demand from the food service industry and the closure of slaughterhouses because of the Corona pandemic but also the Asian ban on imports for German pork meat. Prices of butter decreased by 1.8%. By contrast, the price of sugar increased by 13.9% compared to November 2019. Prices of coffee rose by 4.4%.
Prices of capital goods increased by 0.8% compared to November 2019, durable consumer goods by 1.5%.
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2019 | November | 104.4 | -0.7 | 0.0 |
| December | 104.5 | -0.2 | 0.1 | |
2020 | January | 105.3 | 0.2 | 0.8 |
| February | 104.9 | -0.1 | -0.4 | |
| March | 104.1 | -0.8 | -0.8 | |
| April | 103.4 | -1.9 | -0.7 | |
| May | 103.0 | -2.2 | -0.4 | |
| June | 103.0 | -1.8 | 0.0 | |
| July | 103.2 | -1.7 | 0.2 | |
| August | 103.2 | -1.2 | 0.0 | |
| September | 103.6 | -1.0 | 0.4 | |
| October | 103.7 | -0.7 | 0.1 | |
| November | 103.9 | -0.5 | 0.2 | |
| thereof: | ||||
| Intermediate goods | 103.7 | 0.2 | 0.3 | |
| Capital goods | 105.7 | 0.8 | -0.1 | |
| Durable consumer goods | 107.3 | 1.5 | 0.1 | |
| Non-durable consumer goods | 106.5 | -0.7 | 0.0 | |
| Energy | 100.2 | -2.7 | 0.4 | |
Crisis Monitor allows comparison between corona crisis and and financial and economic crisis
The Producer price index for industrial products is also part of the "Crises monitor", which is used by the Federal Statistical Office to compare the development of major short-term indicators between the corona crisis and the financial and economic crisis of 2008/2009. The “Crisis Monitor” complements the "Corona statistics" webpage, which has provided statistical information on the economic and social consequences of the corona pandemic since early April.
More detailed data and long time series are available in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database.
