30.09.202606:30:42UTC+00German Import Prices at Near 4-Year High

Germany’s import prices rose by 8.3% year-on-year in August 2026, up from 6.8% in July and above market expectations of 8%. This was the highest annual increase since December 2022, driven primarily by a sharp rise in energy costs (43% vs 26.4% in July) amid ongoing tensions in the Middle East.

Electricity prices jumped 63.9%, while prices for petroleum products (63.3%), natural gas (41.9%), crude oil (32.0%), and hard coal (18.3%) also recorded substantial increases. Prices for intermediate goods rose 11%, accelerating from 10.2% in the previous month, largely due to a 29.1% surge in non-ferrous metals and related semi-finished products.

By contrast, consumer goods prices continued to decline (-0.5% vs -0.2% in July), as lower prices for non-durable goods (-0.9%) more than offset a 1.2% increase in the cost of durable goods.

On a monthly basis, import prices rose 1% in August, up from 0.2% in July, beating forecasts of a 0.7% gain and marking the strongest monthly increase since April.