Germany registered in April the biggest increase in industrial prices since 1949

MADRID, 20 May.

Germany registered in April the biggest increase in industrial prices since 1949


The industrial producer price index (PPI) of Germany registered a record year-on-year rise of 33.5% last April, compared to the 30.9% increase observed in March, which represents the largest increase since the beginning of the historical series in 1949, as reported by the Federal Statistical Office (Destatis).

"This was the highest increase in history compared to the corresponding month of the previous year," the German statistical agency said, noting that the April data "also contains implications stemming from Russia's attack on Ukraine."

In April, energy prices increased by 87.3% year-on-year as a result of higher natural gas prices (154.8%), while electricity prices increased by 87.7% and those of petroleum products 53.9%.

Likewise, the prices of heating oil increased by 102.1% compared to April 2021 and those of motor fuels by 46.6%.

On the other hand, the prices of intermediate goods increased by 26% compared to April 2021, including a 43.3% rise in the cost of metals, as well as especially high price increases for fertilizers and nitrogenous compounds, whose prices rose by 111.7%.

The prices of wooden containers rose by 75% since April 2021, those of industrial gases by 66.4%. The prices of prepared feed for farm animals increased by 52.8% and the prices of sawn wood by 52.3%.

Also, compared to April 2021, the prices of paper and cardboard increased by 52.7%. For its part, the prices of cereal flour rose by 39.1%.

In the case of non-durable consumer goods, prices increased by 13.2% year-on-year, including a 17.3% rise in food prices.

Especially high was the increase in the price of butter, with a rise of 70.9%, while crude vegetable oils rose by 70% from April 2021. Beef prices increased by 41.6% and of pork 22.1%.

In turn, the prices of durable consumer goods increased by 8.3% compared to April 2021, mainly due to the evolution of furniture prices (10.5%).

Likewise, capital goods became more expensive by 6.7%, their highest year-on-year increase since October 1975. The greatest impact on the evolution of the prices of capital goods corresponded to the increase in the prices of machines (7.6 %), followed by the evolution of vehicle prices (4.9%).