Germany’s producer price hike hits record 33.6%, basic chem prices rise 33.2%

LONDON (ICIS)–Producer prices in Germany rose by 33.6% year on year in May – the highest increase since 1949 when the country’s federal statistics agency began the survey, according the latest data on Tuesday.

May’s increase, driven by energy (+87.1%), came after a 33.5% April and a 30.9% March increase.

Since December 2021, the year-on-year increases hit a new record each month.

Month on month, producer prices rose 1.6% in May, from April, following a 2.8% increase in April, from March.

German producer price data, May 2022:

	Change from May 2021	Change from April 2022
Total producer prices	33.6%	1.6%
Total excl energy	16.5%	1.2%
Chemical prices	29.2%	2.7%
Basic chemicals	33.2%	3.0%
Ethylene-based polymers	31.0%	6.7%
Vinyl chloride-based polymers	20.7%	-0.6%
Synthetic rubbers	26.8%	6.1%

Source: Statistisches Bundesamt, Wiesbaden

Front page picture: A chemical plant in Marl, Germany
Source: Mandatory Credit: Photo by Sascha Steinbach/EPA-EFE/Shutterstock