Import Prices in Germany Reach Highest Level in Two Years
According to the Federal Statistical Office, import prices in Germany increased by 3.6% in February 2025 compared to the same month the previous year. This marks the largest annual increase since January 2023, when prices rose by 5.3% compared to January 2022.
The trend of rising prices, which began in January 2025 with a 3.1% increase and continued in December 2024 with a 2.0% increase, is expected to continue. Consumers are already feeling the impact of the rising costs at the checkout counter.
The prices of consumer goods, particularly food, have increased significantly, with a 11.2% rise in February 2025 compared to the same month the previous year. The prices of sweets, without durable goods, have risen by 61.7%, orange juice by 40.1% and apple juice by 33.6%. Meat, particularly poultry and beef, has also seen a significant price increase, of 27.2% and 20.7% respectively, as well as milk and dairy products, which have risen by 13.7%.
The prices of imported agricultural goods have also increased, with a 13.7% rise in February 2025 compared to the same month the previous year. Cocoa, in particular, has seen a significant price increase, of 119.4%, driven by the rising prices of cocoa butter, fat and oil, as well as chocolate and other sweets, which have risen by 34.7%.
Imported energy prices have also risen, by 9.8% in February 2025 compared to the same month the previous year, with an average increase of 0.7% compared to January 2025. The prices of electricity and natural gas have increased by 111.7% and 40.5% respectively, with the former seeing a 13.7% increase in February 2025 compared to January 2025 and the latter a 4.2% increase. The EU’s sanctions on Russia and the country’s energy policy are contributing to the rising energy prices.