Germany July import price index +2.2% vs +0.8% m/m expected

Latest data released by Destatis - 27 August 2021

• Prior +1.6%
• Import price index +15.0% vs +13.6% y/y expected
• Prior +12.9%

Another month, another jump in import prices as rising cost pressures continue to contribute to the underlying trend in the past few months. The annual change is the highest since 1981, with energy prices i.e. base effects driving the bulk of the surge.