FX.co ★ German Import Prices Fall the Most in 21 Months

In December 2025, Germany experienced a 2.3% year-on-year decrease in import prices, following a 1.9% reduction in the prior month. This outcome was slightly better than the market's forecast of a 2.6% decline. The country has witnessed a downtrend in import prices for nine consecutive months, with December marking the sharpest fall since March 2024, primarily due to a substantial drop in energy costs. These include significant reductions in the costs of natural gas (down 23.4%), crude oil (23.2%), hard coal (20.9%), electricity (14.0%), and mineral oil products (13.1%). When excluding energy, import prices fell by 0.3%. Additionally, there was a 0.5% decrease in prices for capital goods. On a month-to-month basis, import prices saw a marginal decline of 0.1% in December, which was contrary to market expectations of a 0.4% drop. This followed a 0.5% rise in November, marking the fastest monthly increase in ten months.