Germany's import prices fell annually by 14.3% in September

Posted on November 3, 2023   |  

In October, inflation in Germany dipped to 3.0%, the lowest level seen since August 2021.

German import prices fell by 14.3% in September, compared to the previous year, continuing a trend that began a year ago.

This significant decline is mainly attributed to the lower prices observed in 2022 during the Ukraine war.

Given Germany's reliance on foreign sources for many materials, the impact of cheaper imports on overall prices takes some time to become noticeable.

Expectations among German companies for price increases shortly have also decreased slightly, dropping from 15.7 points in September to 15.3 points in October.