FX.co ★ German Import Prices Hold Steady in January, Extending Deflationary Trend

Germany’s Import Price Index remained unchanged in January 2026, posting a year-over-year decline of 2.3%, the same rate seen in December 2025. The latest data, updated on 27 February 2026, indicate that import prices are continuing to fall at a stable pace on an annual basis, underscoring an ongoing deflationary backdrop in traded goods.

The year-over-year comparison measures price changes in January 2026 against January 2025, while the previous reading captured the change in December 2025 relative to December 2024. The fact that the index stayed at -2.3% suggests that external price pressures on the German economy have not intensified but also have not eased, which could influence cost structures for import-dependent industries and may feed into broader inflation dynamics in the coming months.