Press release No. 076 of 28 February 2025

Import prices, January 2025
+3.1% on the same month a year earlier
+1.1% on the previous month 

Export prices, January 2025
+2.4% on the same month a year earlier
+0.7% on the previous month 

WIESBADEN – Import prices were 3.1% higher in January 2025 than in January 2024. This was the largest year-on-year increase since February 2023 (also +3.1%). Compared with the same month a year earlier, the rate of change was +2.0% in December 2024, and +0.6% in November 2024. The Federal Statistical Office (Destatis) also reports that import prices in January 2025 rose by 1.1% on December 2024. 

Export prices in January 2025 were 2.4% higher than in January 2024. This was the largest year-on-year increase since March 2023 (+3.3%). Compared with the same month a year earlier, the rate of change was +1.8% in December 2024, and +1.2% in November 2024. Export prices were up 0.7% from December 2024. 

Year-on-year increase in import prices mainly due to high prices of consumer goods

The increase in consumer goods prices of 4.5% compared with the same month of the previous year had the biggest impact on the overall development of import prices in January 2025 (+1.1% on December 2024). The prices of imported non-durable consumer goods were 5.2% higher than in January 2024, durable consumer goods cost 2.2% more than a year earlier.

In the case of non-durable consumer goods, food prices, in particular, were markedly higher (+11.2%) than in January 2024.

The price of cocoa, chocolate and sugar confectionery was up by an average of 70.7%, orange juice by 38.2%, apple juice by 34.4%, poultry meat by 25.7% and milk and milk products by 13.5% compared with January 2024. In the case of confectionery, the increase was mostly attributable to higher prices of cocoa butter, fat and oil (+161.4%) and of chocolate and other confectionery (+32.4%). 

Higher prices also for agricultural goods, energy, intermediate and capital goods

The prices of imported agricultural goods in January 2025 were 12.0% higher than in the same month of the previous year (+4.9% compared with December 2024). In particular, the prices of raw cocoa increased strongly by 129.0% year on year and rose 5.5% on the previous month. The prices of green coffee were up 64.6% on January 2024 and increased substantially (+15.3%) compared with December 2024. By contrast, the prices of onions (-40.3%) and live pigs (-19.9%), for example, were down from the previous year. 

Energy imports were also more expensive than in January 2024 (+6.2%). Compared with December 2024, prices here were up 4.1%, on average.

Import prices of electricity increased by 51.2% compared with January 2024 (+4.5% on December 2024), and import prices of natural gas were up 18.4% from January 2024 (+2.6% on December 2024).

By contrast, imported hard coal (-12.4%), mineral oil products (-1.3%) and crude oil (-0.7%) were less expensive than in January 2024.

While hard coal prices were also down month on month (-0.6%), crude oil (+5.9%) and mineral oil products (+5.2%) were more expensive compared with December 2024.

When energy prices are excluded, import prices in January 2025 were 2.8% higher than in January 2024. Compared with December 2024, they were up 0.8%. If only crude oil and mineral oil products are not considered, the import price index was 3.4% above the level of January 2024 and 0.9% higher than in December 2024. 

The prices of intermediate goods were 2.5% higher than in the same month of the previous year (+0.6% on December 2024), capital goods prices increased by 0.6% year on year (+0.4% on December 2024).

Biggest influence on year-on-year price development of capital, intermediate and consumer goods exports

In the case of exports, the increase in the prices of capital and intermediate goods in January 2025 had the biggest influence on the development of prices. The prices of intermediate goods rose by 1.8%, and intermediate goods cost 1.7% more than in January 2024. Compared with the previous month, price increases averaged 0.6% in both product groups.

In the case of intermediate goods, the prices of non-ferrous metals (+12.2%), in particular, were markedly higher than a year earlier. Precious metals (+33.4%), unwrought aluminium (+18.7%) and unwrought copper (+13.4%) cost more than in January 2024. Although at +3.5% the prices of electric motors, generators, transformers and electricity distribution and control apparatus increased only moderately from the previous year’s level, this also contributed substantially to the development of intermediate goods prices.

The year-on-year price increases for motor vehicles and their engines (+2.5%) and machinery (+2.1%) mainly impacted the development in the case of capital goods.

Exports of consumer goods were 2.9% more expensive compared with the same month a year earlier. Prices were unchanged compared with December 2024.

Durable consumer goods cost 1.4% more than a year earlier, and the prices of non-durable consumer goods were up 3.1% from January 2024. Higher prices were observed in particular for exported cocoa, chocolate and sugar confectionery (+49.0%), mainly including cocoa paste, cocoa butter, fat and oil and cocoa powder (+158.2%). Exports of butter and dairy spreads were 39.8% more expensive than in January 2024. Coffee (decaffeinated or roasted) cost 32.7% more than in January 2024.

The prices of exported agricultural products were 5.3% higher than in January 2024 (+2.5% on December 2024).

Energy exports cost 12.4% more than in the same month a year earlier and 4.9% more than in December 2024. Electricity prices were up 51.2% year on year (+4.5% from December 2024). Natural gas prices (+24.0) were also higher than in the same month of the previous year (+6.0% compared with December 2024), whereas the prices of mineral oil products were down year on year (-2.8%) but up on December 2024 (+4.2%). 

More information:

All current results are also provided in the statistical reports on the statistics of import and export prices. Long time series are also available in the tables on the index of import prices (61411-0002 and 61411-0006) and index of export prices (61421-0002 and 61421-0006) in the GENESIS-Online database.

Import price indices can also be found on the Economic Dashboard, which is part of Dashboard Germany (www.dashboard-deutschland.de) (only in German). In this data portal, the Federal Statistical Office brings together up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, the labour market, construction, housing, energy and Ukraine. The portal also contains the Economic Pulse Monitor tool (Pulsmesser Wirtschaft) (only in German) tool for real-time economic monitoring.