Germany's Import Prices Rise 21.7% Annually, Highest Since 1980

Natural gas import prices soar 193.9% from previous year, crude oil import prices up 105.9%

Germany's import prices index increased by 21.7% in October compared with the same month of the previous year, the Federal Statistical Office data showed on Friday.
"This has been the highest year-on-year change since January 1980," Destatis said in a statement.
The annual rates of change were 17.7% in September 2021 and 16.5% in August 2021, it added.
The monthly change for the import prices index was a 3.8% rise in October.
"In October 2021, energy imports were 141% more expensive than in October 2020," the statement said.
While natural gas import prices in October soared 193.9% from the previous year, crude oil import prices were up 105.9%, according to Destatis.
"The index of import prices, excluding crude oil and mineral oil products, increased by 17.5% in October 2021, compared with October 2020," it added. -