German Import Prices Rise at Faster Pace

Germany’s import prices increased 6.8% yoy in July 2026, accelerating from June’s 6.1%, marking the fifth consecutive month of growth. The latest reading was at the same pace as in May, marking the fastest increase since December 2022. Energy prices remained the main driver (26.4% vs 23.9% in June), with notable rises in mineral oil (47.5%), crude oil (22.3%), electricity (19.7%), hard coal (17.5%), and natural gas (18.8%). Capital goods inflation also strengthened (3.5% vs 2.9%). The cost of intermediate goods eased slightly (10.2% vs 10.3%). By contrast, consumer goods prices continued to fall (-0.5% vs -0.8%), as non-durable goods dropped 1.2% while durable goods rose 1.5%. On a monthly basis, import prices rose 0.2%, after a 0.7% fall in June and matching forecasts.





