Press release No. 320 of 29 July 2022
Import prices, June 2022
+29.9% on the same month a year earlier
+1.0% on the previous month
Export prices, June 2022
+16.1% on the same month a year earlier
+0.9% on the previous month
WIESBADEN – Import prices were 29.9% higher in June 2022 compared with June 2021. The Federal Statistical Office (Destatis) also reports that the increase slightly slowed for the second month in a row. The year-on-year rate of change had been +30.6% in May 2022 and +31.7% in April 2022. Compared with May 2022, import prices were up 1.0% in June 2022.
High price increase mainly caused by the development of energy prices
In June 2022 energy imports were 136.0% more expensive than in June 2021. 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 198.9%, followed by that of crude oil with a plus of 85.3%.
The index of import prices, excluding crude oil and mineral oil products, increased by 24.6% in June 2022 compared with June 2021 and rose by 0.1% in comparison with May 2022.
Change of export prices in June 2022
The index of export prices was 16.1% higher in June 2022 than in June 2021. A greater change on the previous year had last been recorded in November 1974 during the first oil crisis (+16.8% from November 1973). In May 2022 and April 2022, the year-on-year rate of change had been +15.9% and +16.0%, respectively. Compared with May 2022, export prices were up 0.9% in June 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.
