Wholesale prices in January 2004 0,4% above the previous year

According to information from the Federal Statistical Office, the wholesale price index in January 2004 was 0,4% higher than in January 2003. In December and November 2003 the annual rates of change were + 1,3% and + 1,5%, respectively. The overall index excluding petroleum products increased by 2004% in January 1,1 compared to the same period in the previous year.

The noticeably lower increase in the annual inflation rate is mainly due to a statistical base effect: the sharp price increases in January 2003 (at that time wholesale prices also rose by 1,2% as a result of increased ecotax and tobacco tax rates) are no longer included in the annual rate calculation for the first time.

Compared to December 2003, the wholesale selling price index increased by 0,5%. Excluding petroleum products, the wholesale price index was also 0,5% above the level of the previous month. Within a month, the prices of tomatoes (+ 22,9%), waste and scrap iron and steel (+ 9,8%), bananas (+
4,9%) and for green coffee (+ 3,0%). On the other hand, fish and fish products (- 12,6%) and citrus fruits (- 5,7%) became cheaper.

There were strong price increases in January 2004 compared to the previous year for potatoes (+37,4%), cereals (+35,5%), fresh eggs (+30,1%), waste and scrap iron and steel (+21,4 .10,5%) and animal feed (+ 25,4%). On the other hand, medium and heavy fuel oil (-21,9%), fish and fish products (-17,2%), green coffee (-8,5%), live pigs (-8,3%), pork (-5,6, XNUMX%) and live cattle (- XNUMX%) cheaper than a year ago.

Source: Wiesbaden [destatis]