Press release No. 018 of 15 January 2024
Wholesale selling prices, December and full year 2023
-2.6 % on the same month a year earlier
-0.6 % on the previous month
-0.5 % on an annual average in 2023 compared with 2022
WIESBADEN – The selling prices in wholesale trade were 2.6 % lower in December 2023 than in December 2022. The Federal Statistical Office (Destatis) also reports that the change on the previous year was -3.6 % in November 2023 and -4.2 % in October 2023. Compared with November 2023, wholesale prices decreased by 0.6 % in December 2023.
Sharp decline in prices of mineral oil products
As in the previous months, mineral oil products were primarily responsible for the year-on-year decline in wholesale prices. In December 2023, prices in the wholesale of mineral oil products were down 9.8 % compared with December 2022, and had dropped 4.6 % from November 2023. Lower year-on-year wholesale prices were also recorded for grain, unmanufactured tobacco, seeds and animal feeds (-19.7 %), chemical products (-19.0 %), metals and metal ores (-12.7 %), and waste and scrap (-7.6 %).
By contrast, compared with December 2022 prices at the wholesale level were higher for fruit, vegetables and potatoes (+13.9 %) and sugar, confectionery and bakery products (+8.9 %). Wholesale prices of beverages (+7.1 %) and tobacco (+5.8 %) were also higher than a year earlier.
Wholesale prices down 0.5 % on an annual average in 2023
On an annual average in 2023, wholesale selling prices fell by 0.5 % compared with 2022. In particular, the drop in prices in the wholesale of mineral oil products (-14.3 %) had a significant impact on the change on the previous year. Considerable price decreases were also reported in the wholesale of waste and scrap (-24.8 %), and grain, unmanufactured tobacco, seeds and animal feeds (-18.8 %).
By contrast, the wholesale prices of live animals (+20.2 %), fruit, vegetables and potatoes (+19.8 %) and sugar, confectionery and bakery products (+16.0 %) were higher in 2023 compared with the annual average in 2022.
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:
The statistical report (only in German) on the index of wholesale selling prices also includes the latest results. This statistical report has replaced the previous “Fachserie 17 Reihe 6” publication. 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
Wholesale selling prices are available on Dashboard Germany (www.dashboard-deutschland.de) (only in German). This data portal of the Federal Statistical Office (Destatis) 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.
