12.01.2022 – 08:00
Federal Office of Statistics
Wholesale sales prices, December 2021
+ 0.2% on the previous month
+ 16.1% on the same month of the previous year
Wholesale sales prices, 2021
+ 9.8% on an annual average in 2021 compared to 2020
Wholesale sales prices were 9.8% higher on an annual average in 2021 than in 2020. As the Federal Statistical Office (Destatis) also reports, the last time there was a higher increase was in 1974 as part of the first oil price crisis (+ 12.9% annual average compared to 1973 ). In particular, the price increases in the wholesale of petroleum products (+32.0%) as well as ores, metals and metal semi-finished products (+44.3%) had a decisive influence on the change compared to the previous year in 2021. There is also a base effect due to the low price level for many raw materials in 2020 in connection with the Corona crisis.
The price increases in wholesale of scrap and residual materials (+74.2%) as well as of grain, raw tobacco, seeds and animal feed (+21.8%) also made a significant contribution to the higher overall index in 2021. In contrast, prices in the wholesale trade for live animals (-7.7%) and for information and communication technology devices (-1.2%) were lower than the annual average for 2020 in 2021.
Sharply increased prices for raw materials and intermediate products lead to a high increase in wholesale prices in December 2021 compared to the same month of the previous year
Wholesale sales prices were 16.1% higher in December 2021 than in December 2020. In November 2021, the index was 16.6% higher than in the same month of the previous year; in October 2021 it was 15.2%. In December 2021, wholesale prices rose by 0.2% month-on-month.
The high rise in wholesale prices compared to December 2020 is mainly due to the sharp rise in prices for many raw materials and intermediate products. The greatest influence on the rate of change in the wholesale price index compared to the same month of the previous year was the price increase in wholesale petroleum products in December 2021 (+ 50.6%).
There were also particularly strong price increases compared to the same month last year in the wholesale trade for scrap and residual materials (+66.4%) as well as for ores, metals and semi-finished metal products (+56.9%). Wholesale prices for raw and sawn timber (+40.8%), chemical products (+31.2%) and grain, raw tobacco, seeds and animal feed (+30.9%) also rose significantly.
Specialist series 17, series 6 also contains current results on the statistics of wholesale sales prices. Long time series can also be obtained from the table Index of wholesale sales prices (61281-0002 and 61281-0004) in the GENESIS-Online database.
Crisis monitor enables comparison between corona crisis and financial and economic crisis
The wholesale prices are also part of the “Crisis Monitor” (www.destatis.de/krisenmonitor), with which the Federal Statistical Office compares the development of important economic indicators in the Corona crisis and in the financial and economic crisis of 2008/2009. The crisis monitor supplements the special page Corona statistics (www.destatis.de/corona), which bundles statistical information on the economic and social consequences of the corona pandemic.
Podcast provides background information and analyzes of current price developments
Background information and analyzes on the consequences of the corona pandemic for the development of consumer prices are also provided by the “StatGespräch” podcast on the subject of inflation. In it, we explain the role of base effects and take a look into the future of price collection.
The complete press release as well as further information and functions are available on the website of the Federal Statistical Office at https://www.destatis.de/pressemitteilungen to find.
Wholesale sales price statistics,
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Federal Office of Statistics
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Original content by: Federal Statistical Office, transmitted by news aktuell