German Wholesale Prices Rise the Least in 4 Months

Germany’s wholesale prices rose 1.2% year-on-year in February 2026, matching the pace recorded in the previous two months and marking the 15th consecutive increase. The sustained growth was largely driven by a sharp jump in prices for non-ferrous ores, non-ferrous metals, and related semi-finished products, which surged 44.9%. Meanwhile, costs for food, beverages, and tobacco gained 0.8%, led by sugar, confectionery, and baked goods (9.1%) and meat and meat products (3.7%). In contrast, prices declined for cereals, raw tobacco, seeds, and animal feed (-7.4%), along with milk, dairy products, eggs, edible oils, and edible fats (-6.6%). On a monthly basis, wholesale prices went up 0.6%, slowing from 0.9% in January but exceeding market forecasts of a 0.4% rise.

Germany’s wholesale prices rose 1.2% year-on-year in January 2026, matching the pace recorded in the previous month and marking the 14th consecutive increase. The sustained growth was largely driven by a sharp jump in prices for non-ferrous ores, non-ferrous metals, and related semi-finished products, which surged 43.8%. Meanwhile, costs for food, beverages, and tobacco went up 1.6%, led by sugar, confectionery, and baked goods (12.5%), followed by coffee, tea, cocoa, and spices (4.1%), and meat and meat products (4.0%). In contrast, prices declined for cereals, raw tobacco, seeds, and animal feed (-8.2%), along with milk, dairy products, eggs, edible oils, and edible fats (-5.7%). On a monthly basis, wholesale prices rose 0.9%, reversing a 0.2% drop in December and well above market forecasts of a 0.1% gain.

Germany’s wholesale prices rose 1.2% yoy in December 2025, easing from a 1.5% growth in the previous month, which had marked the fastest rate since February. Still, the latest reading extended the uptrend to a 13th straight month. The annual rise was largely driven by a sharp surge in prices for non-ferrous ores, non-ferrous metals, and related semi-finished products, which jumped 34.6%. Meanwhile, costs for food, beverages, and tobacco increased 2.4%, led by sugar, confectionery, and baked goods (12.8%), followed by coffee, tea, cocoa, and spices (7.4%), as well as meat and meat products (5.0%). In contrast, prices declined for cereals, raw tobacco, seeds, and animal feed (-7.3%), along with milk, dairy products, eggs, edible oils, and edible fats (-3.3%). On a monthly basis, wholesale prices fell 0.2%, reversing gains of 0.3% in each of the prior two months, missing forecasts for a 0.2% increase and marking the first monthly decline since August.