In July of this year, sales prices in German wholesaling rose more sharply than they have been since the first oil crisis in October 1974.
Compared to the same month last year, which was affected by the pandemic, they were 11.3 percent higher, as the Federal Statistical Office reported on Friday.
According to the information, the last time there was a stronger year-on-year increase was in October 1974 during the first oil crisis (plus 13.2 percent).
In the first Corona summer, the prices for many goods were extremely low, which as a base effect has now led to high increases.
The scarcity of various raw materials and intermediate products also plays a role.
As of June 2021, the price increase was 1.1 percent.
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The 59.2 percent rise in wholesale prices for ores, metals and metal semi-finished products had the greatest influence on the rate of change.
With an increase of 95.6 percent, old and residual materials were almost twice as expensive as a year earlier.
Wood (+59.9 percent) and mineral oil products (+34.3 percent) also grew strongly.