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Producer prices in April 2020 drop by 1.9% compared with 2019.

2020-05-26    Author:   Views:303    

In April 2020 the index of producer prices for industrial products decreased by 1.9% compared with the corresponding month of the preceding year. In March the annual rate of change all over had been –0.8%, as reported by the Federal Statistical Office (Destatis). Compared with the preceding month March the overall index fell by 0.7% in April 2020 (-0.8% in March).


Energy prices as a whole decreased by 7.3% (-1.8% compared to March 2020). On an annual basis, prices of petroleum products were down 23.3%. They fell by 10.1% compared to March 2020. A great part of this decrease presumably is due to the fallen decline in demand during the Corona pandemic. Prices of natural gas (distribution) decreased by 13.0% whereas prices of electricity fell by 2.0%.
The overall index disregarding energy was 0.1% down on April 2019 and fell by 0.3% compared to March 2020.

Prices of intermediate goods decreased by 2.7% compared to April 2019 (-0.5% on March 2020). Prices decreased especially regarding basic iron, steel and ferro-alloys (-9.6%) as well as paper and paperboard (-7.3%) and basic chemicals (-5.1%). Prices of cereal flour were down 3.5%. By contrast, prices of precious metals increased by 23.2% compared to April 2019. Prices of disinfectants were up 10.9, prices of fresh concrete rose by 5.4%.

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