Import prices in August 2026 were 8.3 percent higher than in August 2025, representing the strongest increase compared to the previous year month since December 2022 (which saw a 9.6 percent rise over December 2021). Month-over-month, the increase in import prices from July 2026 to August 2026 stood at 1.0 percent.
Similarly, export prices rose by 4.7 percent in August 2026 compared to August 2025, the largest increase seen year-on-year since February 2023 (which registered a 6.6 percent rise over February 2022). The change from the prior month, July 2026, was 0.4 percent for exports.
According to the Federal Statistical Office (Destatis), the overall development of import prices in August 2026 was primarily driven by two factors: a 43.0 percent surge in energy prices (a 7.5 percent increase over July 2026) and an 11.0 percent rise in intermediate goods prices (a 0.6 percent increase over July 2026).
Ongoing conflict in the Middle East continues to significantly influence energy costs. Year-on-year, import prices for electricity rose sharply by 63.9 percent, mineral oil products by 63.3 percent, natural gas by 41.9 percent, crude oil by 32.0 percent, and hard coal by 18.3 percent. Within mineral oil products, lubricants and other oils saw a particular spike of 105.1 percent, alongside sharp increases in diesel and light heating oil (+80.9 percent), kerosene-based jet fuel (+77.7 percent), and motor gasoline (+52.1 percent). Month-over-month, electricity prices increased significantly (+20.2 percent), natural gas cost 9.8 percent more, and mineral oil products rose 7.0 percent.
Excluding energy prices, import prices climbed 5.1 percent compared to the previous year (a 0.3 percent increase over July 2026). If only crude oil and mineral oil products were excluded, the import price index was 6.5 percent above August 2025 levels (a 0.7 percent increase compared to July 2026).
In the intermediate goods sector, non-ferrous metals and their semi-finished products experienced particularly strong price hikes, with a 29.1 percent increase year-on-year. Copper and its semi-finished products increased by 38.1 percent, noble metals and their semi-finished products rose by 28.6 percent, and aluminum and its semi-finished products saw a 22.3 percent rise. Price escalations were also notable for imported plastics in primary forms (+17.2 percent) and electronic components (+16.1 percent). Import prices for capital goods were also higher, up 3.7 percent compared to August 2025 and 0.3 percent compared to July 2026.
Agricultural goods were, on average, 2.4 percent cheaper in August 2026 than the previous year, though prices increased by 1.1 percent compared to July 2026. The prices for live pigs were 32.9 percent lower than in August 2025, while raw cocoa was 27.7 percent cheaper than the previous year, though it had increased 7.2 percent from the previous month. Similarly, imported raw coffee cost 11.3 percent less than in August 2025, though it had risen 3.6 percent from July 2026.
Imported consumer goods (durable and non-durable goods) were 0.5 percent cheaper compared to the previous year (a 0.3 percent decrease from July 2026). While prices for durable goods were 1.2 percent higher than in August 2025 (a 0.3 percent decrease from July 2026), non-durable consumer goods were 0.9 percent cheaper year-on-year (a 0.4 percent decrease from July 2026). Overall, food costs fell by 7.4 percent compared to August 2025 (a 0.5 percent decrease from July 2026). Price declines were observed in products such as cocoa butter, cocoa fat, and cocoa oil (-44.7 percent), fruit and vegetable juices (-27.5 percent), and pork (-18.5 percent).
Regarding exports, the highest influence on the year-on-year change was exerted by intermediate goods, given their large share of the overall index. Intermediate goods prices were on average 7.0 percent higher than in August 2025 and 0.3 percent higher than in July 2026. Capital goods prices stood 2.5 percent higher than in August 2025 (a 0.1 percent increase from July 2026). Together, these two groups make up nearly 75 percent of exported items.
The impact of the Iranian conflict was also visible in export prices. Energy exports were 44.1 percent higher than in August 2025 and 7.7 percent higher than in July 2026. Mineral oil products were significantly more expensive, rising 53.6 percent compared to August 2025 (a 4.3 percent increase from July 2026). Jet fuel, in particular, was exported at prices 78.6 percent higher than the previous year (up 8.2 percent from July 2026), and motor gasoline was 50.5 percent more expensive than in August 2025 (up 3.3 percent from July 2026). Natural gas was up 7.7 percent year-on-year.
In summary, high levels of energy costs impacted the overall trading figures.
