Germany’s import prices increased by 2.0% year-on-year in December, according to official data from Destatis released on Thursday. Energy costs played a significant role in this rise, with electricity prices soaring by 62.2% and natural gas up by 9% compared to the same month in 2023.
Additionally, import prices for non-durable consumer goods and intermediate goods were 4.6% higher than December 2023. Month-on-month, import prices saw a modest increase of 0.4%, reflecting the rising energy costs.
For the year as a whole, import prices decreased by 1.2% in 2024 compared to 2023. Meanwhile, Germany’s export prices also rose, with a 1.8% year-on-year increase in December and a 0.3% monthly rise. On average, export prices increased by 0.3% in 2024.
