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German import prices post biggest annual rise since 1980

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

November 26, 2021

BERLIN (Reuters) – German import prices rose by 21.7% in October from the same month in the previous year, recording their biggest annual rise since January 1980, the Federal Statistics Office said on Friday.

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Higher energy costs drove the rise. In October 2021, energy imports were 141.0% more expensive than in the same month a year earlier.

On the month, import prices rose by 3.8% in October.

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A Reuters poll had pointed to a rise of 2.1% on the month and an increase of 19.6% on the year.

(Writing by Paul Carrel; Editing by Riham Alkousaa)

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