German Wholesale Prices Steady In January

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Germany’s wholesale prices remained stable in January, data from Destatis showed on Thursday.

The wholesale price index remained unchanged year-on-year in January, after a 1.2 percent decrease in December.

Prices of scrap and residues rose 34.2 percent yearly in January and that of grain, raw tobacco, seeds and animal feed gained 9.5 percent.

Meanwhile, wholesale prices for living animals declined 29.0 percent and those of petroleum products decreased 9.6 percent.

On a monthly basis, the wholesale prices rose 2.1 percent in January, following a 0.6 percent growth in the prior month. This was the highest since March 1974, when prices climbed 3.0 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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