Germany’s wholesale prices rose 4.1% year-on-year in March 2026, up sharply from 1.2% in the previous three months and marking the 16th consecutive monthly increase. This was the strongest annual gain since February 2023, primarily driven by a 17.8% surge in petroleum product prices and a 48.4% jump in the prices of non-ferrous ores, non-ferrous metals, and related semi-finished products. Prices also increased for sugar, confectionery, and baked goods (6.1%), as well as for tobacco products (5.9%).
By contrast, prices fell for coffee, tea, cocoa, and spices (-8.9%); milk, dairy products, eggs, edible oils, and edible fats (-8.3%); flour and cereal products (-5.8%); and cereals, raw tobacco, seeds, and animal feed (-3.4%).
On a monthly basis, wholesale prices rose 2.7% in March, accelerating from a 0.6% increase in February and exceeding market expectations of a 0.4% gain.
