The producer prices of industrial products were 2.9% lower in March 2024 than in March 2023. In February, the year-on-year change rate was -4.1%. The Federal Statistical Office (Destatis) also reports that producer prices in March 2024 were up 0.2% on February 2024.

In March 2024, lower energy prices continued to be the main reason for the year-on-year decline in producer prices. Intermediate goods were also less expensive than in March 2023, whereas higher prices had to be paid for consumer and capital goods.

Energy prices in March 2024 were down 7.0% from March 2023. Compared with February 2024, energy prices remained unchanged. Intermediate goods prices were 3.7% lower in March 2024 than a year earlier. Compared with the previous month, they increased slightly by 0.1%.

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