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Commodity and Food Prices Rising

Published: January 5, 2011; 16:17 · (Vindobona)

Austrian Wholesale price index in December 2010: +9.1% against December 2009; annual average 2010: +5.0% against 2009.

Commodity and Food Prices Rising / Picture: © Flickr

As reported by Statistics Austria, the index of wholesale prices, WPI 2005, amounted to 115.1 (preliminary value) in December 2010 and has increased by 1.4% against November 2010. Compared to December 2009, the wholesale prices rose by 9.1%, after 7.7% in November 2010. On annual average, prices increased by 5.0% in 2010 compared to 2009 (2009 against 2008: -7.5%).

The biggest price increases are recorded in commodities and foodstuffs. Against November 2010, prices for “Salvages” (+21.2%), “Cereals and Feeding Stuffs” (+7.0%), “Fruits, Vegetables and Potatoes” (+5.7%), “Mineral Oil Products” (+4.3%) and “Iron and Steel” (+3.9%) rose substantially. Chemicals (-9.0%), leather products (-3.7%) and data processing equipment (-3.1%) became cheaper.

Comparing the year-to-year data, wholesale prices went up enormously: “Salvages” (+72.6%), “Cereals and Feeding Stuffs” (+65.0%), “Iron and Steel” (+30.3%), “Fruits, Vegetables and Potatoes” (+24.9%), “Mineral Oil Products” (+23.6%), “Non-Iron-Metals” (+18.4%) and “Fertilizers” (+16.5%). Prices went down in the following categories: “Non-alcoholic Drinks” (-8.3%), “Radio and TV Equipment” (-5.2%), “Coffee, Tea, Cocoa and Spices” (-4.0%).