Explanation of Press Release No. 347 – Wholesale Selling Prices for August 2024
Overview: In August 2024, wholesale selling prices in Germany experienced a decline. They were 1.1% lower compared to August 2023 and fell by 0.8% from the previous month, July 2024.
Key Points:
- Year-over-Year Changes:
- Decrease: Prices were lower in August 2024 compared to the same month last year, continuing a trend of falling prices observed over the previous months.
- Main Contributors: Significant decreases were noted in the wholesale prices of mineral oil products (-7.7%), live animals (-8.3%), iron, steel, and ferrous metal products (-6.5%), and chemical products (-5.8%).
- Month-to-Month Changes:
- Decrease: Compared to July 2024, wholesale prices fell by 0.8%.
- Specific Products: Lower prices for mineral oil products were a major factor, with a 3.1% drop from the previous month.
- Price Increases:
- Certain Products: Some categories saw price increases, including coffee, tea, cocoa, and spices (+19.6%), non-ferrous metals (+14.7%), waste and scrap (+14.4%), and sugar, confectionery, and bakery products (+9.3%).
- Additional Resources:
- For detailed statistical reports and long-term data, you can visit the GENESIS-Online database and Dashboard Germany.
This report highlights the fluctuating nature of wholesale prices and the varying impacts on different product categories.

- Price Trends and Causes:
- Mineral Oil Products: The significant decline in prices for mineral oil products (-7.7% year-over-year) was a major contributor to the overall drop in wholesale prices. The month-to-month decrease of 3.1% further amplified this trend.
- Live Animals and Metals: The wholesale prices for live animals, iron, steel, and ferrous semi-finished metal products also experienced substantial drops, contributing to the overall decline in the index.
- Chemical Products: A reduction of 5.8% in chemical products reflected broader decreases in industrial and raw material costs.
- Increases in Specific Categories:
- Food and Beverages: The rise in wholesale prices for coffee, tea, cocoa, and spices (+19.6%) highlights increased costs in the food sector. This increase could be attributed to supply chain issues or higher production costs.
- Non-Ferrous Metals and Waste: Similarly, higher prices for non-ferrous ores, metals, and semi-finished products (+14.7%) and waste and scrap (+14.4%) indicate stronger demand or reduced supply for these materials.
- Sugar and Tobacco: Price increases in sugar, confectionery, bakery products (+9.3%), and tobacco products (+5.2%) suggest continued inflationary pressures in consumer goods.
Future Implications: The data suggests ongoing volatility in wholesale prices, influenced by both decreases in certain industrial sectors and increases in others. The broad trends point to a mixed economic environment, with some sectors experiencing deflationary pressures while others face rising costs.
Additional Information: For those seeking further insights and data, the statistical report and related information are available in the GENESIS-Online database and Dashboard Germany. These resources provide comprehensive data on wholesale prices and other economic indicators, facilitating a deeper understanding of market trends.
This overview reflects the current state of wholesale selling prices and the factors driving these changes, offering valuable insights for businesses, analysts, and policymakers tracking economic fluctuations.
- Price Trends and Causes:
- Mineral Oil Products: The significant decline in prices for mineral oil products (-7.7% year-over-year) was a major contributor to the overall drop in wholesale prices. The month-to-month decrease of 3.1% further amplified this trend.
- Live Animals and Metals: The wholesale prices for live animals, iron, steel, and ferrous semi-finished metal products also experienced substantial drops, contributing to the overall decline in the index.
- Chemical Products: A reduction of 5.8% in chemical products reflected broader decreases in industrial and raw material costs.
- Increases in Specific Categories:
- Food and Beverages: The rise in wholesale prices for coffee, tea, cocoa, and spices (+19.6%) highlights increased costs in the food sector. This increase could be attributed to supply chain issues or higher production costs.
- Non-Ferrous Metals and Waste: Similarly, higher prices for non-ferrous ores, metals, and semi-finished products (+14.7%) and waste and scrap (+14.4%) indicate stronger demand or reduced supply for these materials.
- Sugar and Tobacco: Price increases in sugar, confectionery, bakery products (+9.3%), and tobacco products (+5.2%) suggest continued inflationary pressures in consumer goods.
Future Implications: The data suggests ongoing volatility in wholesale prices, influenced by both decreases in certain industrial sectors and increases in others. The broad trends point to a mixed economic environment, with some sectors experiencing deflationary pressures while others face rising costs.
Additional Information: For those seeking further insights and data, the statistical report and related information are available in the GENESIS-Online database and Dashboard Germany. These resources provide comprehensive data on wholesale prices and other economic indicators, facilitating a deeper understanding of market trends.
This overview reflects the current state of wholesale selling prices and the factors driving these changes, offering valuable insights for businesses, analysts, and policymakers tracking economic fluctuations. reference
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