FX.co ★ German Import Price Growth Cools Sharply in February, Easing to 0.3% MoM

Germany’s import price momentum slowed markedly in February 2026, with the Import Price Index rising 0.3% month-over-month, down from a 1.1% increase in January. The latest data, updated on 31 March 2026, indicate a significant moderation in import cost pressures compared with the start of the year.

In January 2026, the index had climbed 1.1% compared with December, reflecting a stronger month-over-month rise in import prices. February’s 0.3% increase, by contrast, points to a more subdued pace of price growth.

On a month-over-month basis, the “actual” figure for February compares price changes against January, while the “previous” January reading measured the change relative to December. The step down from 1.1% to 0.3% suggests that imported inflationary pressures have eased as Germany moved into late winter 2026.