FX.co ★ German Import Prices Fall Less than Expected

In October 2025, Germany experienced a 1.4% year-on-year decline in import prices, improving upon the previous month's 1.0% decrease and surpassing market expectations of a 1.6% drop. This marked the seventh consecutive month of declining import prices, primarily influenced by a significant reduction in energy costs, which fell by 15.1%. Notable declines were observed in hard coal (down 22.1%), crude oil (down 21.1%), and natural gas (down 13.7%). Additionally, prices for capital goods decreased by 0.5%, while agricultural imports saw a 0.9% drop, heavily impacted by a 22.9% decrease in live pig prices. Excluding energy, import prices remained stable. Meanwhile, there was a slight increase of 0.1% in intermediate goods, and consumer goods rose by 0.6%, primarily due to a 5.4% rise in food prices. Significant price increases were noted in shelled hazelnuts (up 68.7%), coffee (up 37.9%), and beef (up 34.3%). On a monthly basis, import prices unexpectedly climbed by 0.2% in October, outpacing market predictions of no change and maintaining the growth rate observed in the previous month.