Press release No. 528 of 19 November 2021
Producer prices of industrial products (domestic market), October 2021
+3.8% on the previous month
+18.4% on the same month a year earlier
WIESBADEN – In October 2021, the index of producer prices for industrial products increased by 18.4% compared with October 2020. As reported by the Federal Statistical Office this was the highest increase compared to the corresponding month of the preceding year since November 1951 (+20.6%). Compared with the preceding month September 2021 the overall index rose by 3.8% in October 2021.
Mainly responsible for the increase of producer prices compared to October 2020 was the price increase of energy.
Strong increase in prices for all energy sources
Energy prices as a whole were up 48.2% compared to October 2020 and by 12.1% compared to September 2021. Mainly responsible for the high rise of energy prices was the strong price increase of natural gas (distribution) which was +81.4% on October 2020 and electricity (+49.6%).
The overall index disregarding energy was 9.2% up on October 2020.
Significant price increase on intermediate goods, especially regarding metals, secondary raw materials and wood
Prices of intermediate goods increased by 18.1% compared to October 2020. Compared to September 2021 these prices were up 0.9%. The highest impact on the price development of intermediate goods had the increase of metals’ prices which were 37.8% up on October 2020. Prices of metallic steel and ferro-alloys increased by 56.4%. Prices of non-ferrous metals were up 29.8%, aluminium prices 67.4% up. Compared to September 2021, prices of unwrought aluminium rose by 13.1%.
Especially high were the price increases of non-metal secondary raw materials (+95.7%) and of sawn timber (91.8%) whose prices fell by 9.9% compared to the previous month September 2021. Prices for plastics in primary forms were up 23.2% compared to October 2020, prices of prepared animal feeds were 22.6% up, cereal flour prices 16.1% up.
Prices of durable consumer goods increased by 3.4% compared to October 2020, mainly caused by the price development of furniture (+4.3%). Prices of capital goods, such as machines and vehicles, rose by 3.2%, mainly driven by the price development of structural metal products (+14.4%) and of tanks, reservoirs and containers of metal (+10.6%).
Growth in prices of non-durable consumer goods mainly due to increasing prices for oils and fat
Prices of non-durable consumer goods increased by 3.0% compared to October 2020 and rose by 0.5% compared to September 2021. From October 2020 to October 2021 food prices increased by 3.7%. Prices of crude vegetable oils were up 48.3%, butter prices rose by 18.8%, beef prices by 14.2%. Prices of bread, fresh pastry goods and cakes increased by 3.7%. By contrast, pork prices were down 5.1%.
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2020 | October | 103.7 | -0.7 | 0.1 |
| November | 103.9 | -0.5 | 0.2 | |
| December | 104.7 | 0.2 | 0.8 | |
| 2021 | January | 106.2 | 0.9 | 1.4 |
| February | 106.9 | 1.9 | 0.7 | |
| March | 107.9 | 3.7 | 0.9 | |
| April | 108.8 | 5.2 | 0.8 | |
| May | 110.4 | 7.2 | 1.5 | |
| June | 111.8 | 8.5 | 1.3 | |
| July | 113.9 | 10.4 | 1.9 | |
| August | 115.6 | 12.0 | 1.5 | |
| September | 118.3 | 14.2 | 2.3 | |
| October | 122.8 | 18.4 | 3.8 | |
| thereof: | ||||
| Intermediate goods | 122.1 | 18.1 | 0.9 | |
| Capital goods | 109.2 | 3.2 | 0.5 | |
| Durable consumer goods | 110.8 | 3.4 | 0.3 | |
| Non-durable consumer goods | 109.7 | 3.0 | 0.5 | |
| Energy | 147.9 | 48.2 | 12.1 | |
Long time series on the overall index are available in table Producer price indices for industrial products (61241-0002), more detailed data in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database
