Germany's import prices continued their upward trend in August, marking the third consecutive month of increases, as reported by Destatis on Monday.
Year-over-year, import prices saw a modest increase of 0.2% in August, down from a 0.9% rise in July. This more subdued growth in August can be primarily attributed to a 5.4% decline in energy import costs. When energy is excluded, import prices actually increased by 0.9% compared to the previous year.
Consumer goods import prices rose by 2.4%, and agricultural goods also experienced a significant 5.5% annual price increase. Meanwhile, the costs of intermediate goods remained unchanged, and capital goods saw a slight uptick of 0.1%.
On a month-to-month basis, import prices decreased consistently by 0.4% in August.
The data also revealed that export price inflation stayed steady at 0.8%. Month-on-month, export prices showed no change, following a 0.1% decrease in July.
