According to the report from Federal Statistical Office, in March 2020 the index of producer prices for industrial products decreased by 0.8% compared with the corresponding month of the preceding year. In February the annual rate of change all over had been -0.1%. Compared with the preceding month February the overall index also fell by 0.8% in March 2020 (-0.4% in February). Economists had expected a 0.7% decrease.

Energy prices as a whole decreased by 4.7% (-3.1% compared to February 2020). On an annual basis, prices of natural gas (distribution) decreased by 11.9% whereas prices of petroleum products were down 11.5% and prices of electricity fell by 0.7%. The overall index disregarding energy was 0.5% up on March 2019 and remained unchanged compared to February 2020.

Prices of intermediate goods decreased by 2.1% compared to March 2019 (-0.3% on February 2020). Prices decreased especially regarding non-metallic secondary raw materials such as paper and paperboard (-49.4%). Prices of non-durable consumer goods increased by 4.2% compared to March 2019 (+0.3% on February 2020). Food prices were up 6.0% on March 2019. Pork prices increased by 32.9%, the price of sugar by 17.7%. By contrast, prices of butter fell by 17.8% compared to March 2019 and prices for processed and preserved potatoes were 8.5 % down on March 2019.