This drop is justified by the low prices of energy products, which fell 10.1% compared to February last year. In relation to January, the decline in industrial production was 0.4%.
Industrial production prices in Germany registered a year-on-year decline of 4.1% in February, a decrease of 0.4% compared to January, according to data revealed by Destatis this Wednesday, March 20.
This drop is justified by the low prices of energy products, which fell 10.1% compared to February last year. Compared to January, energy prices fell by 1.2%.
The price of gas fell 17.7% compared to February 2023 (-1.3% compared to January 2024), while electricity cost 16.8% less compared to February last year. Compared to January 2024, electricity prices fell by 4%.
Metal prices fell 7.8% compared to February 2023 and fell 0.2% compared to the previous month. Basic iron, steel and iron alloys were 10.5% cheaper than in February 2023. In turn, basic chemical products decreased by 11.4% compared to February last year.
Food recorded a drop of 0.6% compared to February 2023, the first drop since April 2021. In February 2024, lower prices were recorded than in the same month of the previous year, especially for oils vegetables (-19.4%).
Coffee cost 9.7% less than in February 2023, while fruit and vegetable juices increased by 15.4%. Butter cost 5.6% more than a year earlier, after being 13.8% cheaper in January 2024 than in January 2023.
Tags: German industrial production prices yearonyear drop February
