According to the report from the Federal Statistical Office, in June 2021, the index of producer prices for industrial products increased by 8.5% compared with June 2020. This was the highest increase compared to the corresponding month of the preceding year since January 1982 (+8.9%), when prices rose strongly during the second oil crisis. Economists had expected a 8.4% increase. Compared with the preceding month May 2021 the overall index rose by 1.3% in June 2021. Economists had expected a 1.1% increase.

Prices of intermediate goods increased by 12.7% compared to June 2020. Compared to May 2021 these prices were up 1.8 %. Compared to June 2020 intermediate goods’ prices increased especially regarding metallic secondary raw materials (+88.1%) and sawn timber (+84.6%) as well as reinforcing steel in bars (+62.3%). 

Energy prices as a whole increased by 16.9% compared to June 2020 and by 2.2 compared to May 2021. The price increase from June 2020 to June 2021 is mainly caused by a base effect resulting from the sharp drop in prices in spring 2020 in the course of the pandemic.

Prices of durable consumer goods increased by 1.8% compared to June 2020 (+0.2% compared to May 2021), capital goods, such as machines and vehicles, by 1.3% (+0.2% compared to May 2021).

Prices of non-durable consumer goods increased by 1.5% compared to June 2020 and rose by 0.7% compared to May 2021. From June 2020 to June 2021 food prices increased by 1.9%.