Germany’s import prices fell by 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 in crude oil (-21.7%), hard coal (-20.9%), electricity (-10.6%), and mineral oil products (-7.2%). On a monthly basis, import prices unexpectedly climbed by 0.5% in November, beating market expectations of a 0.1% rise, after a 0.2% growth in October and marking the fastest pace in 10 months.

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