According to the Federal Statistical Office (Destatis), import prices were 6.8 percent higher in July 2026 compared to July 2025. Prior month, in June 2026, the year-on-year increase stood at 6.1 percent, while in May 2026, it was 6.8 percent. For the month of July 2026, import prices rose by 0.2 percent compared to June 2026.
Export prices were also elevated in July 2026, showing a 4.2 percent increase over July 2025. This marked the strongest year-on-year rise since February 2023 (which saw a 6.6 percent increase over February 2022). In contrast, June 2026 registered a year-on-year change of 3.5 percent, and May 2026 was at 3.4 percent. Compared to June 2026, export prices increased by 0.4 percent.
The primary drivers of the overall rise in import prices in July 2026 versus July 2025 were again the increased cost of intermediate goods (+10.2 percent, a slight decrease of 0.5 percent from June 2026) and energy (+26.4 percent, an increase of 1.3 percent from June 2026).
Among intermediate goods, the prices for non-ferrous metals and their semi-finished products rose sharply by 26.0 percent year-on-year. Specific increases included copper and its semi-finished products, which jumped 33.0 percent, noble metals and their products at 25.1 percent, and aluminum and its products at 20.4 percent. Significant price growth was also seen in primary imported plastics (+17.8 percent) and electronic components (+15.0 percent), both contributing substantially to the increase in intermediate goods prices.
The ongoing war in the Middle East continues to strongly influence energy prices when comparing to the previous year. Import prices for mineral oil products rose by 47.5 percent compared to July 2025, as did crude oil (+22.3 percent), electricity (+19.7 percent), natural gas (+18.8 percent), and coal (+17.5 percent). Within mineral oil products, lubrication and other oils saw the steepest rise, soaring 99.0 percent year-on-year. Jet turbine fuel from kerosene increased by 62.6 percent, along with diesel fuel and light heating oil (52.4 percent), and motor gasoline (50.3 percent).
When comparing month-on-month to June 2026, mineral oil products were particularly expensive (up 10.2 percent). Imported diesel fuel and light heating oil rose by 14.9 percent, while jet turbine fuel from kerosene increased by 14.1 percent, and motor gasoline rose by 8.5 percent. Natural gas posted a 4.5 percent increase over the previous month, and coal rose 3.4 percent. Conversely, prices for crude oil (-7.7 percent) and electric power (-4.0 percent) decreased.
Excluding energy prices, import prices rose 4.8 percent in July 2026 compared to the year before, representing a rise of 0.1 percent from June 2026. If only crude oil and mineral oil products were excluded, the import price index was 5.4 percent higher than in July 2025 (up 0.3 percent from June 2026).
Imported capital goods were also pricier both year-on-year (3.5 percent higher than July 2025) and month-on-month (0.4 percent higher than June 2026).
Imported agricultural goods averaged 2.1 percent cheaper in July 2026 than in the previous year, although they increased by 2.3 percent compared to June 2026. Specifically, live pigs were 35.9 percent cheaper than in July 2025 and 12.9 percent cheaper than in June 2026. Raw cocoa was also significantly cheaper compared to last year (-32.6 percent) but saw a 9.7 percent increase from June 2026. In contrast, imported raw coffee cost 5.1 percent more than in July 2025, and 9.1 percent more than in June 2026.
Imported consumer goods (durable and non-durable goods) were 0.2 percent cheaper than the previous year, yet they were up 0.2 percent from June 2026. While durable goods were 1.5 percent higher than in July 2025 (up 0.4 percent from June 2026), non-durable goods were 0.5 percent cheaper year-on-year (up 0.3 percent from June 2026). Overall, food prices were 6.8 percent lower than they were in July 2025 (down 0.7 percent from June 2026). Price drops year-on-year were noted in cocoa butter, cocoa fat, and cocoa oil (-46.7 percent), fruit and vegetable juices (-27.6 percent), and pork (-25.1 percent).
Regarding exports, the price increase for intermediate goods had the biggest impact on the year-on-year change due to their large share of the overall index. Average intermediate goods prices were 6.5 percent above those in July 2025 and 0.2 percent above those in June 2026. Capital goods prices were 2.4 percent higher than in July 2025 (up 0.1 percent from June 2026). Together, these two groups cover nearly 75 percent of exported goods.
The repercussions of the Iran conflict were also visible in export prices. Energy exports were 27.2 percent higher than in July 2025 and 3.6 percent higher than in June 2026. Mineral oil products were notably more expensive compared to July 2025, rising 43.2 percent, and 10.1 percent from June 2026. Jet turbine fuel from kerosene, in particular, was exported at prices 61.6 percent higher than last year (up 14.0 percent from June 2026). Gas exports were an 11.5 percent increase compared to July 2025, yet fell 2.6 percent compared to June 2026.
Exported consumer goods (durable and non-durable goods, covering about 21 percent of the total export volume) rose 0.7 percent compared to July 2025. Durable goods prices were 1.8 percent higher than in July 2025 (up 0.1 percent from June 2026), while non-durable goods were 0.4 percent higher both year-on-year and month-on-month. Furthermore, agricultural goods were exported 4.1 percent cheaper than in the previous year, though they saw an increase of 1.5 percent compared to June 2026, noted the statisticians.
