According to the Federal Statistical Office, import prices in Germany rose by 2.3 percent in March compared to the previous year. This represented the largest increase since February 2025. Furthermore, compared to February 2026, import prices saw an increase of 3.6 percent. The rate of increase seen month-over-month is comparable to what was observed in March 2022, when energy prices surged following Russia’s invasion of Ukraine.
The authorities stated that the surge in import prices was significantly influenced by higher costs for intermediate goods and energy. Prices for intermediate goods climbed by 4.1 percent year-over-year, while energy prices increased by a substantial 13.2 percent. Non-ferrous metals, their semi-finished products, and precious metals saw particular steep price increases. These escalations are attributed to military actions in Iran and the Middle East, which notably impacted the prices of fertilizers.
Export prices also recorded growth in March 2026, rising by 1.5 percent compared to the previous year. Intermediate goods were the primary factor driving the development of export prices, given their significant weight in the overall index. Similarly, energy export prices rose considerably, a development linked to the situation in Iran. However, agricultural goods were exported at lower prices in March than in the corresponding month of the previous year.