Germany’s wholesale prices rose 1.2% year-on-year in January 2026, matching the pace recorded in the previous month and marking the 14th consecutive increase. The sustained growth was largely driven by a sharp jump in prices for non-ferrous ores, non-ferrous metals, and related semi-finished products, which surged 43.8%. Meanwhile, costs for food, beverages, and tobacco went up 1.6%, led by sugar, confectionery, and baked goods (12.5%), followed by coffee, tea, cocoa, and spices (4.1%), and meat and meat products (4.0%). In contrast, prices declined for cereals, raw tobacco, seeds, and animal feed (-8.2%), along with milk, dairy products, eggs, edible oils, and edible fats (-5.7%). On a monthly basis, wholesale prices rose 0.9%, reversing a 0.2% drop in December and well above market forecasts of a 0.1% gain.