The industrial products in Germany has increased by 17.8% in January 2023. The price hike saw a slowdown for the fourth time in a row. In November and December 2023, there was a hike of 28.2% and 21.6% increase respectively.
As compared to December 2022, there is 1% rise in the overall index. The results will based on the prilimanary results of its survey. The reason behind it can be price brake on electricity and natural gas which is valid from January 2023 to March 2023. Post which the prices rose significantly fro non-durable goods, intermediate goods, durable consumer goods and capital goods.
One of the main reasons can also be the development in the prices of energy and the decrease in the producer price on a monthly basis. The energy prices were up by 32.9% as compared to January 2022. It is mainly responsible for the high rise of energy prices which has increased in the case of natural gas. The prices fell by 5% in January 2023. This was mainly caused because of a decrease in the prices of electricity.
