Producer prices in Germany increased 7.2 percent year-on-year in May of 2021, the strongest growth since October of 2008, when prices rose strongly before the financial crisis, and above market expectations of 6.4 percent. Main upward pressure came from cost of intermediate products (10.7 percent), namely secondary raw material (69.9 percent), sawn and planed wood (38.4 percent) and metals (23.1 percent); and of energy (14.9 percent), namely natural gas (25.5 percent), after a sharp drop in prices in the spring 2020 when the coronavirus pandemic hit the economy hard. Prices of durable consumer goods increased by 1.7 percent and capital goods, such as machines and vehicles, by 1.2 percent. On the other hand, prices of non-durable consumer goods rose by 0.5 percent, with food increasing 0.3 percent, mainly due to vegetables oils and butter. On a monthly basis, producer prices advanced 1.5 percent, the most since July 2008, and beating market forecasts of a 0.7 percent rise. source: Federal Statistical Office
Producer Prices Change in Germany averaged 2 percent from 1950 until 2021, reaching an all time high of 22.40 percent in June of 1951 and a record low of -7.80 percent in July of 2009. This page provides the latest reported value for - Germany Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Producer Prices Change in Germany is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Germany to stand at 5.60 in 12 months time. In the long-term, the Germany Producer Prices Change is projected to trend around 3.00 percent in 2022 and 2.30 percent in 2023, according to our econometric models.