Germany observed a continued decline in wholesale prices in November, albeit at a slower rate, according to data released by Destatis on Friday.
In November, wholesale prices experienced a 0.6 percent year-over-year decrease, an improvement compared to the 0.8 percent decline observed in October. This marks a trend of falling wholesale prices since May 2023, with the most recent decline being the mildest in four months.
The data highlighted a significant 10.9 percent drop in the prices of mineral oil products within the wholesale sector. Additionally, prices in the wholesale trade of data processing and peripheral equipment decreased by 6.4 percent, while costs for iron, steel, and semi-finished products saw a reduction of 5.4 percent.
Month-over-month, wholesale prices remained steady in November, following a 0.4 percent increase in October.
