German prices of imported goods fall by 3.6% in ’23

Germany’s import prices fell by 3.6 per cent in March 2024 compared to March 2023 while export prices dipped by 1.0 per cent, according to the Federal Statistical Office’s Tuesday’s data.

The decline in prices of imported intermediate goods, such as fertilisers and metals, had the most significant impact on import prices.

Energy imports also decreased by 15.1 per cent from March 2023, with natural gas prices dropping by 35.3 per cent.

However, prices for capital goods and consumer goods saw a slight increase. On the export front, intermediate goods prices decreased by 3.7 per cent, while energy export prices were 21.3 per cent lower than a year earlier.

Despite this, capital goods were exported at prices 2.1 per cent higher than a year earlier, and consumer goods prices also increased.

Import prices are the prices of imported goods.