The producer prices of industrial products were 14.7% lower in September 2023 than in September 2022. This was the largest decline compared with the same month a year earlier since the data were first collected in 1949. In August 2023, the year-on-year change rate was -12.6%. The development is mainly attributable to a base effect caused by the very high price level of the previous year. As a result of the war in Ukraine, the producer price increase in August and September 2022 (+45.8% each from the same month a year earlier) was the highest ever registered since records began. The Federal Statistical Office ... (full story)