Press release No. 462 of 1 November 2022
Import prices, September 2022
+29.8% on the same month a year earlier
-0.9% on the previous month
Export prices, September 2022
+16.8% on the same month a year earlier
-0.6% on the previous month
WIESBADEN – Import prices were 29.8% higher in September 2022 compared with September 2021. The Federal Statistical Office (Destatis) also reports that the year-on-year rate of change had been +32.7% in August 2022 and +28.9% in July 2022. Compared with August 2022, import prices were down 0.9% in September 2022. This was the first decrease since April 2020.
High price increase mainly caused by the development of energy prices
In September 2022, energy imports were 135.1% more expensive than in September 2021 (-4.0% compared to August 2022). The largest influence on the year-on-year rate of the energy price increase had the price increase of natural gas with a plus of 252.0%, followed by that of crude oil with a plus of 52.5%. For both products prices decreased 3.0% compared to August 2022.
The index of import prices, excluding crude oil and mineral oil products, increased by 27.6% in September 2022 compared with September 2021 and fell by 0.7% in comparison with August 2022.
Increases in the prices of energy and intermediate goods are pushing up export prices
The index of export prices was 16.8% higher in September 2022 than in September 2021. In August 2022 and July 2022, the year-on-year rate of change had been +18.6% and +17.0%, respectively. The price increase in September was mainly caused by the development of energy prices. Energy exports were 141.8% more expensive than in September 2021 (-11.7% compared to August 2022). The largest influence on the year-on-year rate of the energy price increase had the price increase of natural gas with a plus of 231.7% (-8.9% in comparison with August 2022).
Compared with August 2022, export prices were down 0.6% in September 2022.
The import prices form part of the Crisis Monitor (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the Covid-19 crisis and the financial and economic crisis of 2008/2009. Import prices are also provided on the Corona statistics webpage (www.destatis.de/corona) together with other indicators that can be used to assess the economic consequences of the Covid-19 pandemic.
More detailed data and long time series are available in tables Index of import prices (61411-0002 and 61411-0006) and Index of export prices (61421-0002 and 61421-0006) in the GENESIS-Online database.
