Germany’s wholesale prices rose 1.2% year-on-year in January 2026, matching December’s pace and marking the 14th consecutive monthly increase. The sustained uptrend was driven primarily by a sharp rise in prices for non-ferrous ores, non-ferrous metals, and related semi-finished products, which jumped 43.8%.
Prices for food, beverages, and tobacco increased by 1.6%, supported mainly by higher prices for sugar, confectionery, and baked goods (12.5%), followed by coffee, tea, cocoa, and spices (4.1%), as well as meat and meat products (4.0%). By contrast, prices fell for cereals, raw tobacco, seeds, and animal feed (-8.2%), as well as for milk, dairy products, eggs, edible oils, and edible fats (-5.7%).
On a monthly basis, wholesale prices rose 0.9% in January, reversing a 0.2% decline in December and coming in well above market expectations of a 0.1% increase.
