Producer prices in January 2004 only 0,2% above the previous year

The index of producer prices for industrial products was 2004% higher in January 0,2 than in January 2003. As the Federal Statistical Office also reports, the annual rate of change in December 2003 was still +1,8%. Compared to the previous month, the index fell by 2004% in January 0,2.

The decline in the annual inflation rate is mainly caused by a statistical base effect: the strong price increases in January 2003 (at that time producer prices had risen by 1,4% compared to December 2002, also as a result of higher eco-tax and tobacco tax rates) are no longer included in the calculation of the annual rate for the first time .

The price trend for petroleum products, which fell by an average of 2003% compared to January 4,3, also had a dampening effect. The price decline was particularly strong for light heating oil (– 10,4%), heavy heating oil (– 18,4%) and liquid gas (– 11,6%). Excluding petroleum products, the annual inflation rate would have been 0,4%.

In contrast, the prices for electricity continue to rise (+ 5,6% compared to the same month last year). Commercial customers with special contracts were particularly hard hit by the electricity price increases, for whom electricity purchases increased by 8,4% year-on-year.

The prices for capital goods and consumer goods were only slightly higher in January 2004 than in January 2003 (+0,2% and +0,1% respectively), while intermediate goods fell by an average of 0,2% in the same period.

In January 2004, there were above-average price increases in a year-on-year comparison for the following goods:

Feed for farm animals (+ 12,6%), fertilizers and nitrogen compounds (+ 10,1%), copper and semi-finished copper products (+ 9,7%), hard coal and hard coal briquettes (+ 7,6%), polyvinyl chloride (+ 5,9). %), printing of daily newspapers (+ 5,3%) and metallic secondary raw materials (+ 5,0%).

In January 2004, things were cheaper than a year ago:

Flat glass (– 9,6%), data processing equipment and facilities (– 7,9%), newsprint (– 7,0%), corrugated paper or cardboard (– 6,5%), communications equipment and facilities (– 6,4, 6,1%), ice cream (– 6,1%), chemical fibers (– 5,5%), gas, liquid and electricity meters (– 4,9%), pork (– 4,6%) and electronic components (– XNUMX%).

Source: Wiesbaden [destatis]