Press release No. 075 of 19 February 2021
Producer prices of industrial products (domestic market), January 2021
+1.4% on the previous month
+0.9% on the same month a year earlier
WIESBADEN – In January 2021, the index of producer prices for industrial products increased by 0.9% compared with the corresponding month of the preceding year. In December 2020 the annual rate of change all over had been +0.2%, as reported by the Federal Statistical Office. Compared with the preceding month December 2020 the overall index increased by 1.4% in January 2021 (+0.8% in December 2020).
Prices of intermediate goods increased by 2.4% compared to January 2020 and by 2.0% compared to the previous month December 2020. Prices increased especially regarding secondary raw material (+34.6%) and prepared feeds for farm animals (+11.6%). Prices of non-ferrous metals were up 7.4%, prices of basic iron, steel and ferro-alloys increased by 5.6%. On an average, prices of metals were up 4.5% compared to January 2020, compared to December 2020 they increased by 3.5%. By contrast, prices of fertilisers and nitrogen compounds fell by 4.0% compared to January 2020, prices of paper and paperboard by 2.6%.
Prices of durable consumer goods increased by 1.5% compared to January 2020, capital goods, such as machines and vehicles, by 0.7%.
Energy prices as a whole increased by 0.7% compared to January 2020 and by 2.7% compared to December 2020. The price increase from December 2020 to January 2021 in parts is due to the national CO2-pricing that has been introduced in January 2021.
The overall index disregarding energy was 0.9% up on January 2020.
Prices of non-durable consumer goods decreased by 1.8% compared to January 2020. Food prices decreased by 3.3%. After pork prices had reached their peak in January 2020 due to increasing demand from China, they decreased subsequently by 28.5% until January 2021. The reason is probably not only the lack of demand from the food service industry and the hygiene-related low capacity of slaughterhouses because of the Corona pandemic but also the Asian ban on imports for German pork meat starting in September 2020. Prices of butter decreased by 7.7%. By contrast, the price of sugar increased by 11.5% compared to January 2020.
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
2020 | January | 105.3 | 0.2 | 0.8 |
| February | 104.9 | -0.1 | -0.4 | |
| March | 104.1 | -0.8 | -0.8 | |
| April | 103.4 | -1.9 | -0.7 | |
| May | 103.0 | -2.2 | -0.4 | |
| June | 103.0 | -1.8 | 0.0 | |
| July | 103.2 | -1.7 | 0.2 | |
| August | 103.2 | -1.2 | 0.0 | |
| September | 103.6 | -1.0 | 0.4 | |
| October | 103.7 | -0.7 | 0.1 | |
| November | 103.9 | -0.5 | 0.2 | |
| December | 104.7 | 0.2 | 0.8 | |
| 2021 | January | 106.2 | 0.9 | 1.4 |
| thereof: | ||||
| Intermediate goods | 106.5 | 2.4 | 2.0 | |
| Capital goods | 106.2 | 0.7 | 0.4 | |
| Durable consumer goods | 108.0 | 1.5 | 0.6 | |
| Non-durable consumer goods | 106.4 | -1.8 | 0.1 | |
| Energy | 105.3 | 0.7 | 2.7 | |
Crisis Monitor allows comparison between corona crisis and and financial and economic crisis
The Producer price index for industrial products is also part of the "Crises monitor", which is used by the Federal Statistical Office to compare the development of major short-term indicators between the corona crisis and the financial and economic crisis of 2008/2009. The “Crisis Monitor” complements the "Corona statistics" webpage, which has provided statistical information on the economic and social consequences of the corona pandemic since early April.
Long time series on the overall index are available in table Producer price indices for industrial products (61241-0002), more detailed data in table Producer price indices for industrial products (61241-0006) in the GENESIS-Online database
