Wholesale Prices Falling Slightly

November 11, 2008 · Filed Under Markets

In October 2008, the Wholesale Price Index was up 3.6 percent compared to last year’s level. In September and August 2008, the annual change rates were +5.8 percent and +7.4 percent respectively. Compared to the previous month, the Wholesale Price Index fell by 1.5 percent in October 2008.

According to the Federal Statistics Authorities (Destatis), wholesale prices for solid fuels and mineral oil products were 14.8 percent up on October 2007. However, these commodities were 3.3 percent cheaper when compared to the previous month. The same applies to ore, iron, steel, non-ferrous metals and their semi-finished products: their wholesale prices increased by 12.3 percent against last year, but were 4.7 percent lower than in September 2008.

While price hikes of up to 8.1 percent were observed for wholesaling fruit, vegetables and potatoes when comparing October 2008 to October 2007, these products were traded at lower prices than in September 2008 (down 0.9 percent). The price level for wholesale coffee, tea, cacao and spices was up only 0.7 percent on last year’s level, but it decreased by 3.7 percent against the previous month. And for wholesale milk and milk products, eggs, cooking oil and nutritional fats, the decline in prices can be seen from the change rate against October 2007 (down 2.7 percent). Prices fell by 0.6 percent on the previous month. In October 2008, grain, seed and feed prices plunged 31.5 percent against last year. Compared to September 2008, prices dropped 11.0 percent, thus falling for the seventh consecutive time on the previous month.

Office equipment and furniture cost 9.1 percent less than in October 2007; prices were down 0.2 percent on the previous month.

Tags: Destatis, Prices, wholesale