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Germany's import prices in Apr 2022 witness 31.7% YoY rise

31 May '22
2 min read
Pic: Shutterstock
Pic: Shutterstock

Import prices in Germany were 31.7 per cent higher in April this year over the figure in the same month last year. The year-on-year (YoY) rate of change had been 31.2 per cent in March this year and 26.3 per cent in February, according to the Federal Statistical Office (Destatis). Compared with March 2022, import prices were up 1.8 per cent in April 2022.

A higher change on the previous year had last been recorded in September 1974 during the first oil crisis—32.6 per cent over September 1973 figure.

The high price rise was mainly caused by rising energy prices, Destatis noted in a press release.

In April 2022, energy imports were 157.4 per cent more expensive than in April 2021. The largest influence on the YoY rate of the energy price increase was of natural gas with 301.2 per cent rise, followed by crude oil with 77.5 per cent rise.

The index of import prices, excluding crude oil and mineral oil products, increased by 27.6 per cent in April 2022 compared with April 2021 and rose by 2.3 per cent in comparison with March 2022.

The index of export prices was 16 per cent higher in April than in the figure in the same month last year. In March and February 2022, the YoY rate of change had been 15.9 per cent and 12.4 per cent respectively. Compared with March 2022, export prices were up by 0.8 per cent in April.

Fibre2Fashion News Desk (DS)

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