The production prices of industrial products in Germany increased by 33.6% in May compared to the same month of 2021, the largest year-on-year increase since the beginning of the historical series that began in 1949, it was announced this Monday.
In a statement released this Monday, the German Federal Statistical Agency (Destatis) states that industrial producer prices have registered new record monthly increases since last Decemberwith a variation rate of 33.5% in April and 30.9% in March.
However, from April to May, producer prices increased by 1.6%, the statement added.
The main reason for the annual increase in industrial producer prices continues to be the evolution of energy priceswhich in May increased by 87.1% compared to the same month of 2021 and 2.5% compared to the previous month.
The price of natural gas increased by 148.1% year-on-year, with plants paying 241.2% more for this energy source, industrial consumers 210.7% and distributors 168.3%.
Compared to April, the natural gas costs 2.5% more in May.
In May, electricity cost 90.4% more year-on-year and 4% more than in April, for distributors it was 165.2% more expensive, for customers with a special contract 83.2% more expensive and for commercial installations a 16.8% more expensive.
Petroleum products were 55.8% more expensive than a year ago and 2.5% more expensive than in April, with the price of light heating oil nearly doubling from last year and 96.0% higher in May, while fuels were 49.4% more expensive.
Excluding energy, producer prices increased 16.5% year-on-year and 1.2% from April.
were also registered high price increases for intermediate goods — 25.1% year-on-year — in particular metals (38.1%), fertilizers and nitrogenous compounds (110.9%) and animal feed (48.7%), as well as industrial gases (68.8%) and materials of wooden packaging (67.4%).
You food products increased by 19.2% on an annual basis, with particularly strong price increases for butter (+80.2%), untreated vegetable oils (+68.4%), beef (+42.9%), coffee (+33.6 %) and milk and dairy products (24.1%).
You consumable prices rose 14.7% compared to the previous year and durable goods 9.4%.
You investment goods increase by 7.1%the highest year-on-year rate of change since September 1975, when it reached 7.4%.
Source: Observadora
