FX.co ★ German Import Prices Edge Higher in July, Easing Deflationary Trend

Germany’s Import Price Index moved back into positive territory in July, signaling a mild shift in price dynamics after a period of decline. Month-over-month, the index rose by 0.2% in July 2026, compared with a 0.7% decrease recorded in the previous month.

The fresh data, updated on 28 August 2026, indicate a moderation of deflationary pressures on imported goods. While the increase is modest, the turnaround from -0.7% to 0.2% suggests that the downward momentum in import prices has eased, a development that could feed into broader price and cost structures within the German economy in the coming months.

The figures are based on a month-over-month comparison, where the current reading reflects the change in July relative to June, while the previous indicator captured the change in June relative to May. Investors and policymakers will be watching subsequent releases to determine whether this uptick marks the start of a more sustained normalization in import price trends.