German wholesale inflation at minus 3% in February

By Gokhan Ergocun

ISTANBUL (AA) - Wholesale prices in Germany fell by 3% year-on-year in February, federal statistics bureau Destatis revealed Wednesday.

Prices went down by 0.1% on a monthly basis, according to Destatis.

The decline in the prices of mineral oil products on a yearly basis last month had the biggest impact on wholesale inflation, it noted.

"Lower year-on-year wholesale prices were recorded in particular for grain, unmanufactured tobacco, seeds and animal feeds (-20.8%), chemical products (-15.0%), metals and metal ores (-14.4%), milk, milk products, eggs, edible fats and oils (-6.1%)," said the bureau.

Destatis added: "By contrast, the wholesale prices of fruit, vegetables and potatoes (+7.3%) were higher than in February 2023. The prices of beverages (+5.1%) and tobacco products (+5.0%) were also up at wholesale level in February 2024 compared with a year earlier."