Press release No. 123 of 21 March 2022
Producer prices of industrial products (domestic market), February 2022
+25.9% on the same month a year earlier
+1.4% on the previous month
WIESBADEN – In February 2022, the index of producer prices for industrial products increased by 25.9% compared with February 2021. As reported by the Federal Statistical Office the index had increased by 25.0% in January and by 24.2% in December 2021. Compared with the preceding month January 2022 the overall index rose by 1.4% in February 2022. The recent price development in the context of Russia’s attack on Ukraine are not yet included in the results as the survey on industrial producer prices was carried out with the reporting date February 15, 2022.
Mainly responsible for the increase of producer prices compared to February 2021 still was the price increase of energy.
Strong increase in prices for all energy sources
Energy prices as a whole were up 68.0% compared to February 2021 and by 2.2% compared to January 2022. Mainly responsible for the high rise of energy prices were the strong price increases of natural gas (distribution) which was +125.4% on February 2021. Electricity prices rose by 66.5% and prices of mineral oil products by 34.5%, the latter being up 5.3% on January 2022.
The overall index disregarding energy was 12.4% up on February 2021 (+0.9% compared to January 2022).
Significant price increase on intermediate goods, especially regarding metals, fertilisers and wooden containers
Prices of intermediate goods increased by 21.0% compared to February 2021. Compared to January 2022 these prices were up 1.4%. The highest impact on the price development of intermediate goods had the increase of metals’ prices, which were 36.2% up on February 2021. Prices of metallic steel and ferro-alloys increased by 49.2%. Prices of non-ferrous metals were up 28.1%. Prices of unwrought aluminium increased by 51.9% compared to February 2021 and by 5.9% compared to the previous month January 2022.
Especially high were the price increases of fertilisers and nitrogen compounds (+71.7%), of wooden containers (+62.2%) as well as of secondary raw materials of paper and paperboard (55.8%). Prices of sawn timber were up 54.1%. These prices rose by 3.3% compared to the previous month after they had decreased for five months.
Compared to February 2021 prices of paper and paperboard were up 44.5%, here in particular prices of newsprint increased (+80.9%). Prices of corrugated paper and paperboard, which are important for the packaging industry, increased by 40.1%.
Growth in prices of non-durable consumer goods mainly due to increasing prices for dairy products
Prices of non-durable consumer goods increased by 7.5% compared to February 2021 and rose by 0.9% compared to January 2022. From February 2021 to February 2022 food prices increased by 9.2%. Especially high was the price increase of butter (+64.6%). Prices of crude vegetable oils increased by 50.1% though they slightly fell compared to January (-2.2%). Prices of meat of bovine animals rose by 25.6% compared to February 2021, coffee prices by 16.9% and prices of bakery and farinaceous products by 7.4%.
Prices of durable consumer goods increased by 6.7% compared to February 2021, mainly caused by the price development of furniture (+8.6%).
Capital goods’ prices rose by 5.5%. This was the highest year-on-year change since October 1982 (+5.8%). The highest impact on the price development of capital goods had the increase of machine prices, which were 6.2% up on February 2021, followed by vehicels’ price development by +3.8%. Parts and accessories of computing machines were up 23.0% and of metal structures and parts of structures 20.6%.
| Year / month | 2015 = 100 | Change in % compared with | ||
|---|---|---|---|---|
| corresponding month of preceding year | preceding month | |||
| 2021 | 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 |
| February | 134.6 | 25.9 | 1.4 | |
| thereof: | ||||
| Intermediate goods | 130.3 | 21.0 | 1.4 | |
| Capital goods | 112.2 | 5.5 | 0.4 | |
| Durable consumer goods | 115.3 | 6.7 | 0.5 | |
| Non-durable consumer goods | 114.5 | 7.5 | 0.9 | |
| Energy | 179.3 | 68.0 | 2.2 | |
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
