Press release No. 330 of 28 August 2020

Import prices, July 2020
+0.3% on the previous month
-4.6% on the same month a year earlier

Export prices, July 2020
0.0% on the previous month
-1.1% on the same month a year earlier

WIESBADEN - As reported by the Federal Statistical Office (Destatis), the index of import prices decreased by 4.6% in July 2020 compared with the corresponding month of the preceding year. In June 2020 and in May 2020 the annual rates of change were -5.1% and -7.0%, respectively. From June 2020 to July 2020 the index rose by 0.3%.

The index of import prices, excluding crude oil and mineral oil products, decreased in July 2020 by 2.4% compared with July 2019.

The index of export prices decreased by 1.1% in July 2020 compared with the corresponding month of the preceding year. In June 2020 and in May 2020 the annual rates of change were -1.0% and -1.2%, respectively. From June 2020 to July 2020 the index remained unchanged.

Crisis Monitor allows comparison between corona crisis and and financial and economic crisis
The import prices are also part of the "Crises monitor“, which is used by the Federal Statistical Office to compare the development of major short-term indicators between the corona crisis and the financial and economic crisis of 2008/2009. The “Crisis Monitor” complements the “Corona statistics“ webpage, which has provided statistical information on the economic and social consequences of the corona pandemic since early April.

Results of import prices are available on the “Corona statistics“ webpage of the Federal Statistical Office together with other indicators which can be used to assess the economic consequences of the coronavirus pandemic.

More detailed data and long time series are available in tables Index of import prices (61411-0006) and Index of export prices (61421-0006) in the GENESIS-Online database.