German import prices in Germany rose in May but at a slower pace than the previous month, according to Destatis.
Import prices rose 30.6% year-on-year in May, following a 31.7% rise in April.
Compared to April, import prices increased by 0.9%.
The high price increases are mainly caused by the evolution of energy prices, Destatis stressed.
In May, energy imports were 143.8% more expensive than the previous year.
Gas prices, which rose 235.6% year-on-year, had the largest impact on rising energy costs, followed by crude oil price increases of 80.2%.
The index of import prices, excluding crude oil and mineral oils, increased by 26.2% in May 2022 on an annual basis.
Export prices rose 15.9% year-on-year in May after rising 16% in April. On a monthly basis, export prices increased by 0.6%.
Source: Capital
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