In March, Germany recorded an increase in import prices of 2.3 percent compared to the previous year, marking the steepest gain since February 2025, according to the Federal Statistical Office. Furthermore, import prices rose by 3.6 percent compared to February 2026. The report notes that such a substantial increase in month-on-month comparison was last seen in March 2022, following a sharp surge in energy prices after Russia’s invasion of Ukraine.
The surge in import prices was primarily attributed, according to the federal authority, to higher costs for raw materials and energy. Specifically, the prices for input goods climbed by 4.1 percent year-over-year, while energy prices increased by 13.2 percent. The sectors most heavily affected by cost increases were non-ferrous metals, their semi-finished products, and precious metals. The price hikes are said to be linked to the ongoing conflict in Iran and the Middle East, which notably impacted fertilizer prices.
Export prices also showed growth in March 2026, increasing by 1.5 percent compared to the previous year. Input goods played the largest role in determining the export price development, given their significant share of the total index. Energy export prices also rose sharply, which the report attributes to the impacts of the Iran conflict. However, agricultural goods were exported at lower costs than in the corresponding month of the previous year.
