Germany's wholesale trade prices continued their downward trajectory in March 2024, recording a 3 per cent decline compared to the same month in the previous year, according to the latest data from the Federal Statistical Office (Destatis). This marks a consistent pattern, with February 2024 also showing a 3 per cent decrease and January 2024 seeing a 2.7 per cent drop in prices year-on-year.
Despite the overall decline, March 2024 experienced a slight uptick of 0.2 per cent in wholesale prices from February 2024, indicating a modest rebound. This minor increase was primarily influenced by the prices of mineral oil products, which saw a rise of 0.7 per cent compared to February 2024. Nonetheless, when compared to March 2023, the prices of these products still decreased by 3.3 per cent, making them the largest contributing factor to the overall decrease in wholesale prices, as per Destatis.
Fibre2Fashion News Desk (DP)
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