Press release No. 069 of 21 February 2022
Producer prices of industrial products (domestic market), January 2022
+2.2% on the previous month
+25.0% on the same month a year earlier
WIESBADEN – In January 2022, the index of producer prices for industrial products increased by 25.0% compared with January 2021. As reported by the Federal Statistical Office this was the highest increase ever compared to the corresponding month of the preceding year. Compared with the preceding month December 2021 the overall index rose by 2.2% in January 2022.
Mainly responsible for the increase of producer prices compared to January 2021 still was the price increase of energy.
Strong increase in prices for all energy sources
Energy prices as a whole were up 66.7% compared to January 2021 and by 1.3% compared to December 2021. Mainly responsible for the high rise of energy prices were the strong price increases of natural gas (distribution) which was +119.0% on January 2021. Electricity prices rose by 66.7% and prices of mineral oil products by 32.9%.
The overall index disregarding energy was 12.0% up on January 2021 (+2.5% compared to December 2021).
Significant price increase on intermediate goods, especially regarding metals, secondary raw materials, fertilisers and wood
Prices of intermediate goods increased by 20.7% compared to January 2021. Compared to December 2021 these prices were up 3.1%. The highest impact on the price development of intermediate goods had the increase of metals’ prices, which were 36.9% up on January 2021. Prices of metallic steel and ferro-alloys increased by 51.5%. Prices of non-ferrous metals were up 28.1%.
Especially high were the price increases of secondary raw materials of paper and paperboard (72.7%), of fertilisers and nitrogen compounds (+67.4%) as well as of wooden containers (+65.7%). Prices of sawn timber were up 52.8%. However, these prices fell by 22.6% compared with their maximum in September 2021.
Compared to January 2021 prices of corrugated paper and paperboard, which are important for the packaging industry, increased by 41.9%, prices of paper and paperboard were up 41.3%. Here in particular prices of newsprint paper rose (+66.9%).
Growth in prices of non-durable consumer goods mainly due to increasing prices for oils and fat
Prices of non-durable consumer goods increased by 6.7% compared to January 2021 and rose by 2.0% compared to December 2021. From January 2021 to January 2022 food prices increased by 8.4%. Especially high was the price increase of crude vegetable oils (+58.5%). Butter prices rose by 61.1%, coffee prices by 14.7%.
Prices of capital goods rose by 5.3%. This was the highest year-on-year change since December 1982 (+5.4%). The highest impact on the price development of capital goods had the increase of machine prices, which were 6.0% up on January 2021, followed by vehicels’ price development by +3.8%. Parts and accessories of computing machines were up 21.2% and of metal structures and parts of structures 20.1%.
Prices of durable consumer goods increased by 6.2% compared to January 2021, mainly caused by the price development of furniture (+8.5%).
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2021 | January | 106.2 | 0.9 | 1.4 |
| February | 106.9 | 1.9 | 0.7 | |
| March | 107.9 | 3.7 | 0.9 | |
| April | 108.8 | 5.2 | 0.8 | |
| May | 110.4 | 7.2 | 1.5 | |
| June | 111.8 | 8.5 | 1.3 | |
| July | 113.9 | 10.4 | 1.9 | |
| August | 115.6 | 12.0 | 1.5 | |
| September | 118.3 | 14.2 | 2.3 | |
| October | 122.8 | 18.4 | 3.8 | |
| November | 123.8 | 19.2 | 0.8 | |
| December | 130.0 | 24.2 | 5.0 | |
| 2022 | January | 132.8 | 25.0 | 2.2 |
| thereof: | ||||
| Intermediate goods | 128.5 | 20.7 | 3.1 | |
| Capital goods | 111.8 | 5.3 | 1.8 | |
| Durable consumer goods | 114.7 | 6.2 | 3.0 | |
| Non-durable consumer goods | 113.5 | 6.7 | 2.0 | |
| Energy | 175.5 | 66.7 | 1.3 | |
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
