Economic Buzz: German import prices up 6.8% on year, export prices spike at fastest pace in more than three years

Germany's import prices rose 6.8% year-on-year in July, accelerating from a 6.1% increase in June, the Federal Statistical Office, Destatis, said Friday. On a monthly basis, import prices increased 0.2%. Energy and intermediate goods were the main drivers of the annual gains. Imported energy prices jumped 26.4% from a year earlier and 1.3% from June. Petroleum product prices surged 47.5% annually, while crude oil rose 22.3%, electricity 19.7%, natural gas 18.8% and hard coal 17.5%. Germany's export prices surged 4.2% annually in July, the strongest increase since February 2023, following a 3.5% rise in June. Export prices rose 0.4% from the previous month. Energy export prices spiked 27.2% annually, while prices for exported intermediate goods increased 6.5%.

Powered by Commodity Insights