According to the report from Federal Statistical Office (Destatis), in February 2020 the index of producer prices for industrial products decreased by 0.1% compared with the corresponding month of the preceding year. Economists had expected a 0.2% increase. In January the annual rate of change all over had been +0.2%. Compared with the preceding month January the overall index fell by 0.4% in February 2020 (+0.8% in January). Economists had expected a 0.1% decrease.

Energy prices as a whole decreased by 2.5% (-1.6% compared to January 2020). On an annual basis, prices of natural gas (distribution) decreased by 11.5% whereas prices of petroleum products increased by 0.1% and prices of electricity rose by 0.9%.

The overall index disregarding energy was 0.6% up on February 2019 and remained unchanged compared to January 2020.

Prices of intermediate goods decreased by 1.6% compared to February 2019 (-0.2% compared with January 2020). Prices decreased especially regarding non-metallic secondary raw materials (-47.6%). Prices of basic iron, steel and ferro-alloys fell by 8.8%. By contrast, prices of precious metals increased by 23.5% compared to February 2019. Prices of fresh concrete were up 7.9%.

Prices of non-durable consumer goods increased by 3.9% compared to February 2019 (+0.4% on January 2020). Food prices were up 5.7% on February 2019. Pork prices increased by 31.8%, the price of sugar by 18.0%. By contrast, prices of butter fell by 18.2% compared to February 2019 and prices for processed and preserved potatoes were 8.5% down on February 2019.