Press Producer prices in August 2019: +0.3% on August 2018

Press release No. 366 of 20 September 2019

Producer prices of industrial products, August 2019
-0.5% on the previous month
+0.3% on the same month a year earlier

WIESBADEN – In August 2019 the index of producer prices for industrial products rose by 0.3% compared with the corresponding month of the preceding year. In July 2019 the annual rate of change all over had been +1.1%, as reported by the Federal Statistical Office (Destatis).

Compared with the preceding month July 2019 the overall index decreased by 0.5% in August 2019 (+0.1% in July 2019).

The greatest impact on the growth of the overall index compared to August 2018 had the development of electricity prices. These were up 6.0% (-1.1% compared to July 2019). Energy prices as a whole decreased by 0.3% (-1.6% compared to July 2019). On an annual basis prices of natural gas (distribution) decreased by 5.0% and prices of petroleum products by 5.7%.
The overall index disregarding energy was 0.6% up on August 2018 and remained unchanged compared to July 2019.

Prices of non-durable consumer goods increased by 1.7% compared to August 2018 (+0.1% on July 2019). Food prices were up 2.2%. Particularly high was the increase of prices of meat of swine (+17.6%) and of processed and preserved potatoes (+16%). By contrast in August 2019 prices of butter fell by 32.9% compared to August 2018 and prices of sugar by 14.8%. Prices of coffee decreased by 6.5%.

Prices of capital goods increased by 1.5%, prices of durable consumer goods were up 1.3%.

Prices of intermediate goods decreased by 0.9% compared to August 2018 (-0.2% on July 2019). Prices decreased especially regarding electronic integrated circuits (-13.7%) and metallic secondary raw materials (-13.6%). Prices of metals fell by 2.6% on August 2018, prices of basic iron, steel and ferro-alloys by 5.1%. In contrast prices of precious metals increased by 22.7% compared to August 2018. Prices of articles of concrete, cement and plaster were up 4.7.

Producer prices of industrial products (domestic market)
 – Germany – 
Year / month2015 = 100Change in % compared with
corresponding month
of preceding year
preceding month
2018August104.23.10.3
September104.73.20.5
October105.03.30.3
November105.13.30.1
December104.72.7-0.4
2019January105.12.60.4
February105.02.6-0.1
March104.92.4-0.1
April105.42.50.5
May105.31.9-0.1
June104.91.2-0.4
July105.01.10.1
August104.50.3-0.5
thereof:
Intermediate goods104.8-0.9-0.2
Capital goods104.81.50.1
Durable consumer goods105.51.30.1
Non-durable consumer goods106.61.70.1
Energy102.5-0.3-1.6

More detailed data and long time series are available in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database.

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