In May 2022, the index of producer prices for industrial products increased by 33.6% compared with May 2021. As reported by the Federal Statistical Office this was the highest increase ever compared to the corresponding month of the preceding year. In April 2022 the index had increased by 33.5% and in March by 30.9%. Compared with the preceding month April 2022 the overall index rose by 1.6% in May 2022.

Energy prices as a whole were up 87.1% compared to May 2021 and by 2.5% compared to April 2022. Mainly responsible for the high rise of energy prices were the strong price increases of natural gas (distribution) which was +148.1% on May 2021.

Prices of intermediate goods increased by 25.1% compared to May 2021. Compared to April 2022 these prices were up 1.5 %. The highest impact on the price development of intermediate goods had the increase of metals’ prices, which were 38.1% up on May 2021.

Prices of non-durable consumer goods increased by 14.7% compared to May 2021 and rose by 1.3% compared to April 2022. From May 2021 to May 2022 food prices increased by 19.2%.

Source:  German Federal Statistical Office
Post by: Republic of Türkiye Ministry of Trade