Press release No. 276 of 14 July 2023
Wholesale selling prices, June 2023
-2.9% on the same month a year earlier
-0.2% on the previous month
WIESBADEN – In June 2023, the selling prices in wholesale trade were 2.9% lower than in June 2022. The Federal Statistical Office (Destatis) reports that this represents the largest year-on-year decrease in prices recorded since June 2020 (-3.3% from June 2019). The year-on-year rate of change was -2.6% in May 2023, and -0.5% in April 2023. Compared with the previous month, wholesale prices were down 0.2% in June 2023.
Sharp decline in prices for mineral oil products and for waste and scrap
At -22.7%, the steep drop in prices in the wholesale of mineral oil products had the biggest impact on the overall development of wholesale prices in June 2023 compared with June 2022. Prices in this branch of economic activity rose 1.3%, however, compared with May 2023. Compared with the previous year, much lower prices were also reported in the wholesale of waste and scrap (-31.7%), grain, unmanufactured tobacco, seeds and animal feeds (-28.4%), and metals and metal ores (-20.8%). Prices in these areas were also down compared with the previous month: waste and scrap (-5.5%); grain, unmanufactured tobacco, seeds and animal feeds (-3.9%); metals and metal ores (-2.4%).
By contrast, the prices for fruit and vegetables were higher (+29.2%) than in June 2022 (+5.2% compared with May 2023), as were the prices for live animals (+20.7%), (+1.4% compared with May 2023). Construction materials and mineral construction elements were 7.7% more expensive at the wholesale level than a year earlier, but cost 0.4% less compared with May 2023.
Methodological notes:
The indices of wholesale selling prices will be rebased to 2021 as of reference month January 2024. First results for the new base year will be released in March 2024.
More information:
Long time series are available in the table on the index of wholesale selling prices (61281-0002 and 61281-0004) in the GENESIS-Online database. Detailed information on statistics of selling prices in wholesale trade is also provided in the statistical report (only in German), which replaces the previous Fachserie 17, Reihe 6 publication.
Wholesale selling prices are available on Dashboard Germany (www.dashboard-deutschland.de) (only in German). This data portal of the Federal Statistical Office combines up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, health and mobility. The portal also contains the Economic Pulse Monitor tool Pulsmesser für die Wirtschaft) (only in German) for real-time economic monitoring.
