Press Producer prices of services up 1.9% on an annual average in 2020 compared with 2019

Press release No. 159 of 31 March 2021

Producer prices of services, 2020 (annual average)
+1.9% on the previous year

Producer prices of services, 4^th quarter of 2020
+1.2% on the previous quarter
+2.6% on the same quarter of the previous year

WIESBADEN – The producer prices of services in Germany were up 1.9% in 2020 compared with 2019. The increase was larger than in the previous year (2019 on 2018: +1.3%). The Federal Statistical Office (Destatis) also reports that the producer prices of services rose markedly also in the 4^th quarter of 2020 (+1.2% on the 3^rd quarter of 2020). When compared with the 4^th quarter of 2019, the last quarter before the coronavirus pandemic, the increase is markedly higher (+2.6%).