2023.03.1508:53:00UTC+00Germany Wholesale Price Inflation At 22-Month Low

Germany's wholesale prices increased at the slowest pace in nearly two years in February, figues from Destatis showed on Wednesday.

The wholesale price index rose 8.9 percent year-on-year in February, slower than the 10.6 percent rise in January.

This was the slowest rate since April 2021, when prices had grown 7.2 percent.

Further, wholesale price inflation turned to a single-digit figure for the first time in twenty months.

The highest annual price growth occurred in the category of food, beverage and tobacco, rising 16.8 percent.

Building materials, elements, machines, equipment, and supplies also had a large impact on the annual rate of change in February, the agency said.

Month-on-month, wholesale prices edged up 0.1 percent, following a 0.2 percent increase in January, which was the first rise in four months.