April data shows German import prices climbed 5.3% year-on-year, the highest since January 2023, driven by energy and intermediate goods.
German import prices increased 1.2% month-on-month in April, exceeding the 1.1% consensus forecast. The annual rise reached 5.3%, the strongest since January 2023, fueled by ongoing Middle East conflict fallout.
Energy prices surged 2.8% on the month and 31.0% year-on-year, while intermediate goods rose 2.4% monthly and 7.8% annually. Non-ferrous metals and fertilizers saw notable price hikes, with fertilizers up 7.6% from March.
Excluding energy, import prices still rose 1.0% month-on-month and 2.8% year-on-year, reflecting broader inflation across capital goods, durable, and non-durable consumer goods.