Germany’s import price decline slows in May 2025, less than expected

Import prices in Germany slowed their decline in May 2025, though less than analysts had anticipated. According to data released by the Federal Statistical Office of Germany (DESTATIS), import prices recorded a month-on-month decrease of -0.7%, compared to the -0.3% expected by analysts, following a -1.7% drop in April.

On an annual basis, import prices fell by 1.1%, compared to a -0.4% decrease in the previous month and against expectations of a -0.8% decline.

Excluding energy prices, import prices in May 2025 were 0.4% higher than in May 2024. However, they were 0.3% lower than in April 2025. Excluding only crude oil and petroleum products, the import price index was also 0.4% higher compared to May 2024 and 0.4% lower than in April 2025.

As for exports, consumer goods were 2.3% more expensive compared to May 2024 (+0.2% compared to April 2025). While prices for durable consumer goods increased by 1.6% year-on-year, non-durable consumer goods were 2.5% more expensive than in May 2024.