Producer prices for industrial goods rose by 0.8 percent in December 2024 compared to the same month in the previous year, according to the Federal Statistical Office (Destatis). Compared to the previous month, the producer prices fell by 0.1 percent. In the year 2024, the average producer prices were 1.8 percent lower than in the same period of the previous year.
The main reason for the increase in producer prices compared to the previous year was the price rise for investment goods, as explained by the Federal Statistical Office. Consumer goods, semi-finished goods, and intermediate goods were also more expensive, while energy was cheaper. Without energy, the producer prices rose by 1.2 percent compared to the previous year and remained unchanged compared to the previous month.
Energy was 0.2 percent cheaper in December 2024 than in the same month of the previous year, and 0.4 percent cheaper than in the previous month. The greatest influence on the change in energy prices compared to the previous year was the decline in gas prices in the distribution sector, which fell by 5.6 percent compared to December 2023, and by 0.2 percent compared to the previous month.
Electric power was 1.3 percent cheaper in December 2024 than in the same month of the previous year, and 1.6 percent cheaper than in the previous month. Mineral oil products were 4.0 percent cheaper in December 2024 than in the same month of the previous year, and 0.3 percent more expensive than in the previous month. Light heating oil was 4.8 percent cheaper in December 2024 than in the same month of the previous year, and 2.8 percent more expensive than in the previous month. The prices for fuels were 3.9 percent lower in December 2024 than in the same month of the previous year, and 0.8 percent more expensive than in the previous month. District heating was 17.2 percent more expensive in December 2024 than in the same month of the previous year, and remained unchanged compared to the previous month.
The prices for investment goods rose by 1.8 percent in December 2024 compared to the previous year, and remained unchanged compared to the previous month. Machines were 2.0 percent more expensive in December 2024 than in the same month of the previous year, and the prices for vehicles and vehicle parts rose by 1.4 percent.
Consumer goods were 2.6 percent more expensive in December 2024 than in the same month of the previous year, and 0.2 percent more expensive than in the previous month. Food was 3.1 percent more expensive in December 2024 than in the same month of the previous year, and the prices for butter rose by 40.9 percent, and for sweets by 24.4 percent. Meat was 15.9 percent more expensive in December 2024 than in the same month of the previous year, and 1.7 percent more expensive than in the previous month. Sugar, on the other hand, was 32.6 percent cheaper in December 2024 than in the same month of the previous year, and pork was 7.0 percent cheaper, and wheat meal was 6.3 percent cheaper.
Semi-finished goods were 1.0 percent more expensive in December 2024 than in the same month of the previous year, and 0.1 percent more expensive than in the previous month, according to the Federal Statistical Office. Intermediate goods were 0.1 percent more expensive in December 2024 than in the same month of the previous year, and 0.1 percent cheaper than in the previous month.
Price increases compared to December 2023 were also observed for natural stones, gravel, sand, clay, and kaolin (4.2 percent), building materials made of gypsum (3.8 percent), electrical transformers (2.6 percent), and cables and electrical installation materials (1.1 percent).
Wood and wood and cork products were 2.2 percent more expensive in December 2024 than in the same month of the previous year, and the prices for sawn wood rose by 14.7 percent, while the prices for planed wood fell by 5.6 percent, and the prices for plywood were 2.6 percent lower.
The prices for metals fell by 0.3 percent in December 2024 compared to the same month of the previous year, and rose by 0.1 percent compared to the previous month. Unwrought iron, steel, and ferroalloys were 7.6 percent cheaper in December 2024 than in the same month of the previous year, and the prices for steel fell by 1.5 percent, while the prices for copper and semi-finished copper products rose by 6.4 percent.
Chemical basic products fell in price by an average of 0.7 percent in the year 2024 compared to the previous year, according to the Federal Statistical Office. Glass and glassware were 5.4 percent cheaper in December 2024 than in the same month of the previous year, and animal feed for livestock was 3.8 percent cheaper.
The greatest influence on the decline in producer prices for industrial goods in the year 2024, which was 1.8 percent lower than in the previous year, was the development of energy prices, which fell by an average of 6.2 percent in the year 2024 compared to the previous year. Natural gas in the distribution sector was 13.3 percent cheaper in the year 2024 than in the previous year, and electric power was 10.3 percent cheaper, and mineral oil products were 4.1 percent cheaper.
Intermediate goods were, on average, 1.2 percent cheaper in the year 2024 than in the previous year, according to the Federal Statistical Office. The greatest influence on this was the price development for metals, which fell by 3.6 percent. The prices for pellets and briquettes from sawmill by-products fell by 29.0 percent, for flat glass by 24.8 percent, and for fertilizers and nitrogen compounds by 17.2 percent.