Down for the fourth consecutive month, Germany’s wholesale inflation hit a 16-month low in December 2022, official data revealed on Saturday.
Wholesale prices rose 12.8% year-on-year in December, easing from a 14.9% annual hike in November, the Federal Statistical Office (Destatis) announced.
“The largest impact on the annual rate of change in December 2022 had the price increase in wholesale trade with mineral oil products (up 22.8%),” Destatis said.
“Particularly sharp price increases compared with December 2021 showed in wholesale trade with solid fuels (up 82.3%), as well as with living animals (up 47.6%),” it added.
On a monthly basis, wholesale prices fell 1.6% in December 2022.— AA