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

Stefan Baumgarten

21-Jun-2022

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 

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