German Import Prices Fall Less Than Expected

Germany’s import prices fell by 1.4% year-on-year in June 2025, following a 1.1% decline in May but less than market expectations of a 1.6% drop.

This marked the third straight month of falling import prices, mainly due to a sharp decline in energy costs (-13.6%), particularly electricity (-24.7%), crude oil (-20.6%), hard coal (-18.1%), and mineral oil products (-14.4%).

Excluding energy, import prices were 0.1% higher from a year earlier, though they fell 0.4% from May.

Intermediate goods dropped 1.2% and capital goods slipped 0.5% on an annual basis.

In contrast, consumer goods rose 2.1%, led by non-durable items (+8%), especially food, with notable price increases in coffee (+36.1%), beef (+33.5%), and chocolate (+34.2%).

Agricultural imports also rose (+1.7%), driven by sharp gains in onion (+61.7%) and green coffee (+37.4%) prices.

On a monthly basis, import prices were unchanged, following a 0.7% drop in May.