German import prices rise 10.4% – the steepest increase since November 2022
Imported energy was 61.8% more expensive in September than a year earlier, electricity as much as 96.2%. Excluding energy, import prices were 5.5% higher year on year.
Symbolic image · Photo: Matti Blume / Wikimedia Commons, CC BY-SA 4.0 (cropped and resized)
Prices of goods imported into Germany rose 10.4% in September 2026 from the same month a year earlier, the Federal Statistical Office (Destatis) said. In August, the increase had been 8.3%. According to Dow Jones Newswires, this is the steepest year-on-year rise since November 2022. Compared with August, import prices rose 2.1%.
Energy is the main driver: imported energy became 61.8% more expensive within a year and 14.5% more expensive compared with the previous month alone. Imported electricity cost 96.2% more than a year ago, mineral oil products 81.3%, crude oil 59.3% and natural gas 53.9%. Excluding energy, import prices were 5.5% higher, and intermediate goods 11.1%.
Import prices are regarded as a leading indicator of future consumer inflation, as companies often pass on higher costs to customers with a delay. In October, Germany's inflation rate eased to 2.8%, mainly because of the fuel tax cut in force since Oct. 1.