According to the report from Federal Statistical Office (Destatis), in August 2020 the index of producer prices for industrial products decreased by 1.2% compared with the corresponding month of the preceding year. In July the annual rate of change all over had been –1.7%. Compared with the preceding month July the overall index remained unchanged in August 2020 (+0.2% in July).

Energy prices as a whole decreased by 3.9%. On an annual basis, prices of petroleum products were down 14.4%, prices of natural gas (distribution) decreased by 9.9%.

The overall index disregarding energy was 0.4% down on August 2019.

Prices of intermediate goods decreased by 2.0% compared to August 2019. Prices decreased especially regarding secondary raw materials (-16.8%) as well as basic iron, steel and ferro-alloys (-8.7%) and basic chemicals (-6.4%). Prices of cereal flour were down 2.9%. By contrast, prices of precious metals increased by 26.3% compared to August 2019. Prices of ready-mixed concrete rose by 4.5%.

Prices of non-durable consumer goods increased by 0.3% compared to August 2019. The price of sugar increased by 19.2%. Prices of meat and poultry meat products rose by 2.4%. Pork prices were down 12.6% compared to August 2019.

Prices of capital goods increased by 1.0% compared to August 2019, durable consumer goods by 1.5%.