German Import Prices Rise 6.8% YoY in July as Energy Costs Soar

Germany's import prices rose significantly in July 2026, increasing by 6.8% year-over-year (YoY) and 0.2% month-over-month (MoM), according to data released by Destatis.

This marks the sixth consecutive month of rising import prices for Germany, with YoY increases reaching 6.1% in June and 6.8% in May 2026.

The largest contributor to the rise in import prices was energy, particularly mineral oil products, crude oil, and natural gas, which saw considerable YoY increases.

However, when excluding energy prices from the calculation, import prices still rose by 4.8% YoY and 0.1% MoM.