Producer prices of industrial products (domestic market), February 2022
+25.9% on the same month a year earlier
+1.4% on the previous month
WIESBADEN – In February 2022, the index of producer prices for industrial products increased by 25.9% compared with February 2021.
As reported by the Federal Statistical Office the index had increased by 25.0% in January and by 24.2% in December 2021.
Compared with the preceding month January 2022 the overall index rose by 1.4% in February 2022.
The recent price development in the context of Russia’s attack on Ukraine are not yet included in the results as the survey on industrial producer prices was carried out with the reporting date February 15, 2022.
Mainly responsible for the increase of producer prices compared to February 2021 still was the price increase of energy.
Growth in prices of non-durable consumer goods mainly due to increasing prices for dairy products
Prices of non-durable consumer goods increased by 7.5% compared to February 2021 and rose by 0.9% compared to January 2022.
From February 2021 to February 2022 food prices increased by 9.2%. Especially high was the price increase of butter (+64.6%).
Prices of crude vegetable oils increased by 50.1% though they slightly fell compared to January (-2.2%).
Prices of meat of bovine animals rose by 25.6% compared to February 2021, coffee prices by 16.9% and prices of bakery and farinaceous products by 7.4%.
Prices of durable consumer goods increased by 6.7% compared to February 2021, mainly caused by the price development of furniture (+8.6%).
Capital goods’ prices rose by 5.5%. This was the highest year-on-year change since October 1982 (+5.8%).
The highest impact on the price development of capital goods had the increase of machine prices, which were 6.2% up on February 2021, followed by vehicels’ price development by +3.8%.
Parts and accessories of computing machines were up 23.0% and of metal structures and parts of structures 20.6%.