Press release No. 410 of 16 October 2023
Wholesale selling prices, September 2023
-4.1% on the same month a year earlier
+0.2% on the previous month
WIESBADEN – In September 2023, the selling prices in wholesale trade were 4.1% lower than in September 2022. The Federal Statistical Office (Destatis) also reports that this represents the largest year-on-year decrease in prices recorded since May 2020 (-4.3% from May 2019). As in the previous months, the decline is primarily due to a base effect originating from the large price increases in 2022 as a result of the war in Ukraine. Compared with the previous month, wholesale prices were up 0.2% in September 2023.
Sharp decline in prices for mineral oil products and for waste and scrap
At 19.8%, the steep drop in prices in the wholesale of mineral oil products had the biggest impact on the overall development of wholesale prices in September 2023 compared with September 2022. This is mainly due to a base effect originating from the high level of prices in the same period of the previous year. The prices of mineral oil products rose by 2.9% compared with August 2023, however. Compared with the same month a year earlier, lower prices were also reported in the wholesale of waste and scrap (-22.7%), grain, unmanufactured tobacco, seeds and animal feeds (-21.9%), chemical products (-20.8%), and metals and metal ores (-14.9%).
By contrast, fruit and vegetables (+19.7%) and sugar, confectionery and bakery products (+13.4%) were more expensive than in September 2022. The prices of live animals (+10.5%) and beverages (+8.4%) were also higher at wholesale level than a year earlier.
Methodological notes:
The indices of wholesale selling prices will be rebased to 2021 as of reference month April 2024. First results for the new base year will be released in May 2024.
More information:
Long time series are available in the table on the index of wholesale selling prices (61281-0002 and 61281-0004) in the GENESIS-Online database. Detailed information on statistics of selling prices in wholesale trade is also provided in the statistical report (only in German), which replaces the previous Fachserie 17, Reihe 6 publication.
Wholesale selling prices are available on Dashboard Germany at (www.dashboard-deutschland.de) (only in German). This data portal of the Federal Statistical Office combines up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, health and mobility. The portal also contains the Economic Pulse Monitor tool (Pulsmesser für die Wirtschaft) (only in German) for real-time economic monitoring.
