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Germany December Import Price Index +0.1% vs +2.0% m/m expected

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  • Before +3.0%
  • Import price index +24.0% y/y
  • Before +24.7%

Import prices rose only slightly on the month, but this follows a runaway run in previous months, which reaffirms rather robust price pressures in the German economy. Looking at the details, the average annual import price index was 13.5% higher than in 2020 – marking the biggest year-on-year change since 1981.

The jump is largely driven by higher energy price developments, but export prices also increased by 5.6% on average in 2021 compared to the previous year, also marking the biggest change since 1981.

Germany December Import Price Index +0.1% vs +2.0% m/m expected

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