2026.09.1506:08:36UTC+00German Wholesale Inflation Highest Since 2023

Germany’s wholesale prices rose by 6.8% year-on-year in August 2026, up from a 5.3% increase in July and extending their upward trend for the 21st consecutive month. This was the fastest pace of wholesale price inflation since February 2023, driven primarily by higher prices for energy products and raw materials amid ongoing hostilities in the Middle East.

Significant price increases were recorded for mineral oil products (36.1%), followed by non-ferrous ores, metals and semi-finished products (27.4%), chemical products (13.6%), and information and communication technology equipment (11.1%).

In contrast, prices declined for several agricultural and food-related categories, including live animals (-18.3%), milk, dairy products, eggs, edible fats and oils (-10.3%), and meat and meat products (-6.7%).

On a monthly basis, wholesale prices rose by 0.9% in August, accelerating from a 0.2% increase in July. This marked the strongest monthly gain in four months and exceeded market expectations of a 0.1% rise.