BRUSSELS (dpa-AFX) - Germany's import prices increased at the fastest pace in nearly four years in September due to the sharp increase in prices of imported energy, data from Destatis showed Friday.
Import prices grew 10.4 percent year-on-year in September, marking the strongest rise since November 2022. This followed an increase of 8.3 percent in August.
The annual increase reflects the sharp rise in prices of imported energy and intermediate goods in the wake of Iran war, Destatis said.
Energy prices surged 61.8 percent and intermediate goods prices advanced 11.1 percent. Imported capital goods prices increased 4.5 percent and imported consumer goods were 0.2 percent more expensive than in the previous year.
Excluding energy, import prices were up 5.5 percent from the last year.
Month-on-month, import prices grew 2.1 percent after rising 1.0 percent in August. Prices increased for the third straight month and hit the highest in six months.
At the same time, export price inflation rose to 5.3 percent from 4.7 percent in August. The effects of the Iran war also continued to be reflected in export prices.
On a monthly basis, export prices grew 0.6 percent compared to August's 0.4 percent increase.
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