13.11.202607:10:35UTC+00Germany Wholesale Inflation Highest since 2023

Germany’s wholesale prices climbed 8.8% year-on-year in October 2026, up slightly from an 8.7% increase in September and marking the fastest annual pace since February 2023. This brought the run of annual wholesale price inflation to 24 consecutive months. The rise was driven primarily by sharp increases in the prices of petroleum products (47.6%) and of grain, raw tobacco, seeds, and animal feed (21.2%). Prices also rose notably for chemical products (18.6%), non-ferrous ores, metals and semi-finished metal products (13.8%), and data processing and peripheral equipment (13.4%).

By contrast, prices fell for live animals (-15.8%), coffee, tea, cocoa, and spices (-8.4%), as well as milk, dairy products, eggs, and edible fats and oils (-7.1%). On a monthly basis, wholesale prices increased 0.4%, down sharply from the 1.9% gain recorded in September and broadly in line with market expectations. It was the smallest month-on-month increase in three months.