German Import Prices Drop the Most in 20 Months
2025-12-23 07:08
By
Chusnul Chotimah
1 min. read
Germany’s import prices fell 1.9% year on year in November 2025, following a 1.4% decline in the previous month.
This marked the eighth consecutive month of falling import prices and the steepest drop since March 2024, driven largely by a sharp decline in energy costs (-15.7%), particularly crude oil (-21.7%), hard coal (-20.9%), electricity (-10.6%), and mineral oil products (-7.2%).
Excluding energy, import prices were down 0.3%.
Prices also decreased for capital goods (-0.5%), while agricultural imports fell 3.2%, largely weighed down by a 28.0% slump in raw cocoa.
Consumer goods declined 0.3%, with non-durable and durable goods prices falling 0.1% and 1.5%, respectively, driven mainly by a 22.2% drop in olive oil prices.
Conversely, intermediate goods prices edged up slightly (0.3%).
On a monthly basis, import prices climbed 0.5% in November, beating market expectations of a 0.1% rise, after a 0.2% increase in October and marking the fastest monthly gain in 10 months.