Ekonomické zprávy
27.10.2021

German import prices continued to rise in September

Data from the Federal Statistical Office (Destatis) showed that the index of import prices increased by 17.7% in September 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year change since August 1981 (+19.5% on August 1980). In August 2021 and in July 2021 the annual rates of change were +16.5% and +15.0%, respectively. From August 2021 to September 2021 the index rose by 1.3%.

In September 2021 energy imports were 107.1% more expensive than in September 2020. The largest influence on the year-on-year rate of energy price increase had natural gas with a plus of 170.6% and crude oil with a plus of 75.5%.

The index of import prices, excluding crude oil and mineral oil products, increased by 14.7% in September 2021 compared with September 2020 and in comparison with August 2021 it rose by 1.3%.

The index of export prices increased by 8.1% in September 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year-change since January 1975 (+10.5% on January 1974). In August 2021 and in July 2021 the annual rates of change were +7.2% and +6.3%, respectively. From August 2021 to September 2021 the index rose by 0.9%.

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