Berlin:German import prices surged by 10.4% year-on-year in September, marking the steepest annual increase since November 2022. This spike was driven by the Middle East conflict's impact on energy costs, as shown by official data.

According to Anadolu Agency – English, import prices rose 2.1% from the previous month, accelerating from an 8.3% annual increase in August and 6.8% in July, as reported by the Federal Statistical Office. The escalation of the Iran war had a significant impact, with energy import prices surging 61.8% compared to September 2025 and 14.5% compared to August.

Considerable annual increases were recorded across all energy imports, with electricity leading at 96.2%, followed by mineral oil products at 81.3%, crude oil at 59.3%, natural gas at 53.9%, and hard coal at 25.1%. Within mineral oil products, prices doubled for lubricating oils, aviation turbine fuel, diesel, and heating oil compared to the previous year. Excluding energy, import prices rose 5.5% year-on-year in September and 0.5% month-on-month.

Intermediate goods import prices climbed 11.1% annually, driven by a 26.8% increase in non-ferrous metals. Copper prices rose 37.9%, aluminum 23.4%, and precious metals 22.1%. Imported capital goods were 4.5% more expensive than a year earlier, while consumer goods edged up by 0.2%. In contrast, imported agricultural products fell 0.9% year-on-year, with declines led by live pigs at 34.9%, raw cocoa at 21.2%, and green coffee at 15.2%.

Export prices also rose 5.3% year-on-year in September, the largest annual increase since February 2023, while edging up 0.6% from August. The effects of the Iran war were evident in export prices, with energy exports jumping 58.3% year-on-year and 9.2% month-on-month. Export prices for mineral oil products rose 74.1% annually, aviation turbine fuel increased 114.3%, and natural gas rose 31.7%. Intermediate goods exports, which account for a major share of total shipments alongside capital goods, increased 7.2% year-on-year. Agricultural export prices rose 6.7% compared to September 2025 and climbed 2.8% from the previous month.