Press release No. 581 of 17 December 2021
Producer prices of industrial products (domestic market), November 2021
+0.8% on the previous month
+19.2% on the same month a year earlier
WIESBADEN – In November 2021, the index of producer prices for industrial products increased by 19.2% compared with November 2020. As reported by the Federal Statistical Office this was the highest increase compared to the corresponding month of the preceding year since November 1951 (+20.6%). Compared with the preceding month October 2021 the overall index rose by 0.8% in November 2021.
Mainly responsible for the increase of producer prices compared to November 2020 was the price increase of energy.
Strong increase in prices for all energy sources
Energy prices as a whole were up 49.4% compared to November 2020 and by 1.2% compared to October 2021. Mainly responsible for the high rise of energy prices was the strong price increase of natural gas (distribution) which was +83.4% on November 2020 and electricity (+48.0%).
The overall index disregarding energy was 9.9% up on November 2020.
Significant price increase on intermediate goods, especially regarding metals, secondary raw materials and wood
Prices of intermediate goods increased by 19.1% compared to November 2020. Compared to October 2021 these prices were up 1.1 %. The highest impact on the price development of intermediate goods had the increase of metals’ prices which were 37.0% up on November 2020. Prices of metallic steel and ferro-alloys increased by 54.4%. Prices of non-ferrous metals were up 29.0%.
Especially high were the price increases of secondary raw materials (+79.1%) and of wooden containers (+73.7%) and of sawn timber (+72.5%), whose prices fell by 8.5% compared to the previous month October 2021. Prices for fertilisers and nitrogen compounds rose by 43.4% compared to November 2020 and were up 12.4% from October 2021. Compared to November 2020 prices of paper and paperboard increased by 28.0%, of prepared feeds for farm animals by 25.2%, of basic chemicals by 24.7% up and of cereal flour by 19.8%.
Growth in prices of non-durable consumer goods mainly due to increasing prices for oils and fat
Prices of non-durable consumer goods increased by 3.7% compared to November 2020 and rose by 0.6% compared to October 2021. From November 2020 to November 2021 food prices increased by 4.7%. Prices of crude vegetable oils were up 59.0%, butter prices rose by 37.3% (+19.5% compared to October 2021). Beef prices increased by 17.5%, prices of bread, fresh pastry goods and cakes by 3.9%. By contrast, pork prices were down 5.8%.
Prices of durable consumer goods increased by 3.7% compared to November 2020, mainly caused by the price development of furniture (+4.8%). Prices of capital goods, such as machines and vehicles, rose by 3.6%. Especially high was the price increase of metal structures and parts of structures (+17.8%).
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2020 | November | 103.9 | -0.5 | 0.2 |
| December | 104.7 | 0.2 | 0.8 | |
| 2021 | January | 106.2 | 0.9 | 1.4 |
| February | 106.9 | 1.9 | 0.7 | |
| March | 107.9 | 3.7 | 0.9 | |
| April | 108.8 | 5.2 | 0.8 | |
| May | 110.4 | 7.2 | 1.5 | |
| June | 111.8 | 8.5 | 1.3 | |
| July | 113.9 | 10.4 | 1.9 | |
| August | 115.6 | 12.0 | 1.5 | |
| September | 118.3 | 14.2 | 2.3 | |
| October | 122.8 | 18.4 | 3.8 | |
| November | 123.8 | 19.2 | 0.8 | |
| thereof: | ||||
| Intermediate goods | 123.5 | 19.1 | 1.1 | |
| Capital goods | 109.5 | 3.6 | 0.3 | |
| Durable consumer goods | 111.3 | 3.7 | 0.5 | |
| Non-durable consumer goods | 110.4 | 3.7 | 0.6 | |
| Energy | 149.7 | 49.4 | 1.2 | |
Long time series on the overall index are available in table Producer price indices for industrial products (61241-0002), more detailed data in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database
