Press Producer prices of services up by an annual average of 8.0% in 2021 on 2020

Press release No. 122 of 21 March 2022

Producer prices of services, 2021 (annual average)
+8.0% on the previous year

Producer prices of services, 4^th quarter of 2021
+10.5% on the same quarter of the previous year
+1.4% on the previous quarter

WIESBADEN – The producer prices of services in Germany were up 8% in 2021 compared with 2020. The prices increase was thus much greater than in the previous year (2020 on 2019: +1.9%). The Federal Statistical Office (Destatis) also reports that the producer prices of services rose strongly in the 4^th quarter of 2021 (+10.5%) on the 4th quarter of 2020. There was a marked increase of +1.4% also compared with the 3^rd quarter of 2021.