Germany’s wholesale prices jumped by 8.7% year-on-year in September 2026, accelerating from 6.8% in the previous month. The latest figure marked the fastest price growth since February 2023, driven largely by sharp increases in energy and intermediate goods prices amid ongoing hostilities in the Middle East. Prices rose at a faster pace for mineral oil products (+48.8%), non-ferrous ores, metals and semi-finished metal products (+24.9%), and grain, raw tobacco, seeds and animal feed (+19.3%). Moreover, prices increased for chemical products (+16.4%) and data processing and peripheral equipment (+12.1%). In contrast, prices fell for live animals (-15.1%), milk, dairy products, eggs, edible fats and oils (-9.7%), and meat and meat products (-6.0%). On a monthly basis, wholesale prices rose by 1.9% in September, accelerating from a 0.9% increase in the previous month. This marked the strongest monthly increase in five months and exceeded market expectations of 0.7%.