By Mucahithan Avcioglu
ISTANBUL (AA) - Germany's import prices went up 3.6% on a yearly basis, the country’s statistical authority said on Monday.
The figure marked the largest year-on-year increase recorded since January 2023.
The German Federal Statistical Office (Destatis) said that the year-on-year increase in import prices was mainly due to higher prices of consumer goods which increased by 4.5%.
Import prices of electricity increased by 111.7% compared with February 2024 and natural gas prices were up 40.5% in February.
The prices of imported non-durable consumer goods were also 5.2% higher year-on-year, durable consumer goods cost 2.1% more.
“By contrast, imported hard coal (-17.4%), mineral oil products (-6.8%) and crude oil (-6.1%) were less expensive than in February 2024,” according to Destatis.
On a monthly basis, import prices saw a 0.3% increase in February, exceeding market expectations of no change in the figure.
Imported hard-coal prices became 4.5% less expensive, and crude oil cost 3.6% less month-on-month.
Meanwhile, export prices also increased on a yearly basis by 2.5%, as well as month-on-month by 0.3%.