Germany’s wholesale prices surged 4.1% year-on-year in March 2026, accelerating from a 1.2% growth in the prior three months and marking the 16th consecutive increase. It was also the fastest rise since February 2023, driven by a 17.8 jump in prices of petroleum products and a 48.4% climb in the cost of non-ferrous ores, non-ferrous metals, and related semi-finished products. Prices were also higher for sugar, confectionery, and baked goods (6.1%), and tobacco products (5.9%). In contrast, prices declined for coffee, tea, cocoa and spices (-8.9%), milk, dairy products, eggs, edible oils and edible fats (-8.3%), flour and cereal products (-5.8%), and grain, unmanufactured tobacco, seeds and animal feeds (-3.4%). On a monthly basis, wholesale prices increased 2.7%, picking up from 0.6% in February and topping market estimates of a 0.4% rise.