General

Germany’s wholesale inflation falls to 16-month low

Down for the fourth consecutive month, Germany's wholesale inflation hit a 16-month low in December 2022, official data revealed on Monday.

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.

For all of 2022, wholesale prices rose 18.8% on average compared to the previous year.

Source: Anadolu Agency