German Wholesale Price Inflation Highest In Nearly 2 Years

(RTTNews) - Germany's wholesale prices increased for the third straight month in February, and at the fastest pace in almost two years, data from Destatis showed on Friday.

The wholesale price index climbed 1.6 percent year-on-year in February, following a 0.9 percent rise in January.

Further, this was the steepest rate of increase since March 2023, when prices had risen 3.8 percent.

The upward trend was largely driven by 4.4 percent higher costs for food, beverages, and tobacco products and a 29.7 percent surge in wholesale selling prices for non-ferrous ores, non-ferrous metals, and semi-finished products.

Wholesale prices also climbed 0.6 percent on a monthly basis in February, slower than the 0.9 percent rise in the previous month.