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2026.06.3006:13:38UTC+00German Import Prices Jump, Highest Since Late 2022

Germany’s import prices rose by 6.8% year-on-year in May 2026, up from a 5.3% increase in April and in line with market expectations. This marked the third consecutive monthly gain and the fastest annual pace since December 2022. The rise was driven primarily by energy costs, which jumped 37.2% after a 31.0% increase in the previous month. Within energy, prices climbed sharply for crude oil (+59.3%), mineral oil products (+57.3%), electricity (+44.1%), hard coal (+12.7%), and natural gas (+10.4%).

Prices for intermediate goods also accelerated, rising 10.1% year-on-year after a 7.8% increase in April. This was mainly due to higher prices for non-ferrous metals and semi-finished non-ferrous metal products (+30.3%), with precious metals climbing 46.6%. On a month-on-month basis, import prices increased 0.7% in May, moderating from a 1.2% rise in April.

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