Import prices continued to rise sharply in July – especially for energy. The import price for natural gas in July was three times higher than a year ago, as the Federal Statistical Office in Wiesbaden announced on Wednesday. Import electricity was therefore almost four times as expensive. The electricity price in the EU is linked to the gas price.
The energy imports in Germany as a whole rose by almost 132 percent and by 6.2 percent compared to the previous month within a year, as the statisticians also announced.
Coal phase-out, climate change, sector coupling: The briefing for the energy and climate sector. For decision makers
Hard coal was 261 percent more expensive than in July a year ago and 14.4 percent more expensive than in June. The price of crude oil rose 64.7 percent year-on-year – but fell 5.6 percent compared to the previous month.
There were also significant price increases for fertilizers and nitrogen compounds from abroad – these so-called intermediate goods were around 142 percent more expensive in July. According to the statistics, the prices for raw aluminium, paper and cardboard, pig iron and plastics were also significantly higher than a year ago.
Food prices rose by almost 24 percent, and importers had to pay significantly more than in July 2021, especially for milk and milk products, oils and fats, and meat.
Overall, import prices increased by almost 29 percent. Excluding energy prices, the price increase was 14 percent.
