Wholesale trade prices up by almost 10 percent

It is the biggest increase in 27 years: in July 2008 wholesale trade prices were up by 9.9% as compared to July last year. In June and May this year the annual growth rates had just been +8.9% and +8.1% respectively. In the one-month period from June to July this year the wholesale trade price index increased by 1.4%. According to the Federal Statistical Office, the driving forces behind the price rise were once more fuels and mineral oil products, the prices of which increased by 30.8%.

In the one-month period from June to July this year prices for fuels and mineral oil products increased by 6.2% (from May to June: +3.7%). Ores, iron, steel, non-ferrous metals and the semi-finished products thereof were by 15.7% more expensive in July this year as compared to July 2007. Since June this year prices for these products increased by 2.8%.

Office devices and equipment were 11% less expensive in July this year as compared to July last year.

Prices for fruits, vegetables and potatoes increased by +13.3% since July last year. Due to seasonal factors these prices fell by 1.2% in July 2008 as compared to June 2008. Milk, dairy products, eggs and dietary fats were 13.2% more expensive as compared to July 2007 and by 1.8% in comparison with June this year. For coffee, tea, cocoa and spices the respective changes were +12.7% and +1.2% respectively. GERMAN