Decreased import costs, escalating food and energy prices
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In June 2025, Germany experienced a significant shift in import and export prices, with several key factors contributing to the trends observed.
Energy Prices Drive Import Decline
Energy import prices saw a substantial decrease in June 2025, marking a 13.6% year-on-year drop. The costs of electricity, crude oil, hard coal, mineral oil products, and natural gas all fell, resulting in a 1.4% year-on-year decrease in total import prices for the month. This steep drop in energy prices was the primary cause for the overall reduction in import prices, impacting inflation and economic conditions.
However, on a monthly basis, import prices remained essentially unchanged, with a 0.0% increase compared to May 2025. Excluding energy, import prices actually rose 0.1% year-on-year but fell 0.4% month-on-month.
Mixed Trends in Other Goods Categories
Intermediate goods and capital goods experienced a decline annually, while consumer goods, particularly non-durables like food, saw price increases. Notable price hikes were seen in coffee (+36.1%), beef (+33.5%), sweets (+29.9%), orange juice (+29.0%), poultry (+28.6%), apple juice (+26.2%), and milk and dairy products (+11.6%).
On the other hand, prices for raw cocoa, potatoes, and live pigs decreased compared to the previous year, with potato prices falling 11.3% and live pigs prices dropping 11.0%.
Export Prices Remain Stable
Export prices in June 2025 were 0.7% higher than in June 2024, with exported consumer goods being 1.7% more expensive than in the previous year but 0.3% cheaper than in May 2025. Raw coffee was significantly more expensive than a year ago (+37.4%), but its price fell by 1.3% compared to May 2025.
Meanwhile, agricultural goods exports were 2.4% cheaper in the year-on-year comparison, and their prices also fell by 1.7% compared to May 2025. The export price index for investment goods was 0.5% lower than the previous year and 0.2% lower than in May 2025.
In summary, the substantial decline in energy import prices year-on-year was the main driver for the overall reduction of import prices in June 2025, while export prices remained relatively stable. These trends are expected to influence inflation and economic conditions in the coming months.
Discouraging weather conditions may have affected the performance of outdoor sports during June 2025, as the typically active sports enthusiasts turned their attention towards indoor activities. Meanwhile, the decrease in energy import prices could potentially benefit indoor sports facilities by reducing their energy costs.
