- Prior +1.7%
- Wholesale price index +22.6% y/y
- Prior +16.6%
That's a big jump in wholesale prices last month and all it does is just reaffirm the narrative that overall price pressures are surging in the German economy, which is also evident as seen by the consumer inflation numbers released at the same time. Yikes indeed.
The biggest jump in wholesale prices came from the increase in wholesale trade of mineral oil products (+70.2%), with increases also seen in wholesale trade of solid fuels (+61.9%) as well as metals and metal ores (+55.8%). No doubt that the Russia-Ukraine conflict has contributed significantly to that.