Germany May import price index +1.7% vs +1.3% m/m expected

Latest data released by Destatis - 28 June 2021

• Prior +1.4%
• Import price index +11.8% vs +11.4% y/y expected
• Prior +10.3%

Not much of a surprise as German import prices continue to tick higher on the month owing likely to the impact of supply constraints, though the annual rate is largely influenced by energy prices (crude oil prices +135% y/y).