Biggest price increase in 26 years in German wholesale trade

In the period from May 2007 to May 2008 wholesale trade selling prices in Germany increased by 8.1%. According to the Federal Statistical Office, this is the highest annual inflation rate since February 1982. In April and March 2008 annual inflation had been 6.9% and 7.1% respectively. In comparison with April this year wholesale trade selling prices increased by 1.4%.

Prices grew in particular sharply for solid fuels and mineral oil products (+20.7%). The increase on the previous month, April, was 5.3% in May 2008. Ores, iron, steel and non-ferrous metals as well as semi-finished products thereof increased by 9.1% since May 2007 and by 3.6% since April 2008.

Prices for cereals, seeds and fodder grew by 33.3% in the period between May 2007 and May 2008. Due to seasonal factors, however, they fell by 7.5% since April this year. Milk, dairy products, eggs, cooking oil and nutritional fats were 16.4% more expensive as compared to May last year, but 4.1% less expensive with comparison to April this year. For coffee, tea, cocoa and spices the changes were +11.9% and +0.1% respectively. GERMAN