Economy

Germany's wholesale prices up 23.8% in April, highest since 1962

Russia-Ukraine war's largest impact seen on mineral oil products in April, Destatis says

Gokhan Ergocun   | 16.05.2022
Germany's wholesale prices up 23.8% in April, highest since 1962

ISTANBUL 

Wholesale trade prices in Germany soared by 23.8% year-on-year in April amid Russia’s war on Ukraine, official figures showed on Monday.

According to the Federal Statistical Office (Destatis), this constitutes the largest increase in wholesale trade since 1962, when the data collection was started.

"The annual rates of change in February 2022 and in January 2022 had been +22.6% and +16.6%, respectively," it added.

The war's impact was seen especially in raw materials and energy sources, Destatis said, adding that food products were also affected by the war.

"The largest impact on the annual rate of change in April 2022 had the price increase in wholesale trade of mineral oil products (+63.4%)," it said.

The prices were also up by 2.1% on a monthly basis.

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