According to the report from the Federal Statistical Office (Destatis), in October 2021 the selling prices in wholesale trade rose by 15.2% compared with October 2020. This was the highest annual rate of change since March 1974 after the first oil crisis (+15.8% compared with March 1973). In September 2021 and in August 2021 the annual rates of change had been +13.2% and +12.3%, respectively. Compared to the previous month, wholesale prices increased by 1.6% in October 2021.
The high rates of change for wholesale prices in annual comparison derive from increased prices for raw materials and intermediate products. The largest impact on the year-on-year price rate in wholesale trade had the increased prices for mineral oil products (+54.7%).