German Import Prices Rise More Than Expected In January

(RTTNews) - Germany's import prices rose at a faster than expected pace in January but remained lower in year-on-year comparison due to the steep fall in energy prices, preliminary data from the statistical office Destatis showed on Friday.

The import price index rose 1.1 percent month-on-month, same as in December, data showed. Economists had expected an increase of 0.6 percent. This was the largest month-on-month increase recorded since January 2025, which was also 1.1 percent, the statistical office said.

Import prices fell 2.3 percent year-on-year, same as in December.

Energy prices continued to have the biggest influence on import prices in January amid a decline in prices for all energy sources, Destatis said.

In January, energy prices slumped 21.1 percent year-on-year but rose 3.5 percent from the previous month.

Excluding energy prices, import prices decreased 0.1 percent from the previous month, but rose 1.0 percent from December. Export prices rose 0.2 percent year-on-year after remaining unchanged in December. They increased 0.9 percent from December, marking the biggest monthly gain since August 2022, when they rose 1.6 percent from the previous month.

Higher prices of exported intermediate and capital goods offset lower prices of consumer goods, energy and agricultural products in January, thus having the biggest impact on the year-on-year increase in export prices.