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MIL OSI Translation. Region: Germany / Deutschland –

Source: Destatis Federal Statistical Office

Press release No. 425 from October 28, 2020

Import prices, September 2020 + 0.3% on the previous month-4.3% on the same month last year

Export prices, September 2020 + 0.1% on the previous month-1.1% on the same month last year

WIESBADEN – In September 2020 import prices were 4.3% lower than in September 2019. As the Federal Statistical Office (Destatis) also reports, the year-on-year change rate was -4.0% in August 2020 and in July 2020 -4.6%. Compared to August 2020, import prices rose by 0.3% in September.

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Sharp fall in energy prices compared to the previous year

The decline in import prices compared to September 2019 was mainly influenced by the development of import prices for energy. Energy imports were 29.7% cheaper in September 2020 than in September 2019.

Oil had the greatest influence on the annual rate of change for energy with a minus of 32.5%. After an extreme drop in prices in the first four months of the year, the prices for imported oil more than doubled from April to August 2020. In September, however, they fell again compared to the previous month (-5.8%).

The prices for petroleum products were 39.3% lower than in the previous year and also fell compared to the previous month (-6.0%).

The prices for natural gas were 17.1% below those of September 2019, but, in contrast to crude oil and mineral oil products, rose significantly for the second time in a row with an increase of 14.8% compared to August 2020.

The import price index excluding energy was 1.3% lower in September 2020 than in September 2019. If only petroleum and petroleum products are disregarded, the import price index was 1.9% lower than in the previous year.

Price decreases for intermediate goods overall, but significant price increases for precious metals compared to the previous year

The prices for imported intermediate goods in September 2020 were 2.5% below those of the same month last year. Among other things, wood and cellulose pulp (-13.8%), plastics in primary forms (-8.2%), pig iron, steel and ferro-alloys (-7.3%) and electronic components (-6.2%) were cheaper. . In contrast, the prices for precious metals and semi-finished products from them were still significantly higher than in the same month last year (+22.6%).

The prices for imported capital goods in September 2020 were 1.0% below those of September 2019. While tablets (-6.1%) and smartphones (-5.1%) were cheaper, cars and car engines were 1, 1% higher prices than imported in September 2019.

Durable consumer goods were 1.1% cheaper than in the previous year. Import prices for consumer goods fell by 0.3% compared to the previous year. Meat and meat products in particular were 5.3% cheaper than in the previous year.

The import prices for agricultural goods were 2.8% higher than in September 2019. While citrus fruits (+14.8%), apples (+11.8%) and green coffee (+10.1%) were significantly more expensive than before Year, mainly almonds (-32.8%), live pigs (-28.1%) and tomatoes (-9.0%) were imported at lower prices.

Selected changes in import prices in September 2020
Import price index for
Change from September 2020 to September 2019
Change from September 2020 to August 2020
in %
Intermediate goods
-2.5
0.4
including:
Iron ores
5.1
7.0
Non-ferrous metal ores
-1.0
2.1
Capital goods
-1.0
-0.1
Consumer Goods
-1.1
0.2
Consumer goods
-0.3
0.2
including:
pork meat
-17.7
-2.9
Poultry meat
-11.9
-0.8
Vegetable and animal oils and fats
5.1
1.6
energy
-29.7
0.1
Hard coal
-25.2
4.3
Crude oil
-32.5
-5.8
Natural gas, raw
-17.1
14.8
Petroleum products
-39.3
-6.0
Electrical current
24.9
26.5
Agricultural goods
2.8
2.1
including:
Live pigs
-28.1
-7.6
Green coffee
10.1
-4.8

The export price index in September 2020 was 1.1% below the level of September 2019. In August and July 2020, the annual rate of change was also -1.1%. Compared to August 2020, export prices rose slightly by 0.1% on average.

Foreign trade price indices
Year month
2015 = 100
Change compared to the previous year period
Change from previous month
in %
YD = annual average – = nothing available
Import price index
2015 JD
100.0
-2.8

2016 JD
96.7
-3.3

2017 JD
100.1
3.5

2018 JD
102.7
2.6

2019 JD
101.7
-1.0

2019
September
101.1
-2.5
0.6
October
101.0
-3.5
-0.1
November
101.5
-2.1
0.5
December
101.7
-0.7
0.2
2020
January
101.3
-0.9
-0.4
February
100.4
-2.0
-0.9
March
96.9
-5.5
-3.5
April
95.2
-7.4
-1.8
May
95.5
-7.0
0.3
June
96.1
-5.1
0.6
July
96.4
-4.6
0.3
August
96.5
-4.0
0.1
September
96.8
-4.3
0.3
for information:
Total index excluding energy
99.5
-1.3
0.2
Overall index excluding petroleum and petroleum products
98.1
-1.9
0.5
Export Price Index
2015 JD
100.0
0.9

2016 JD
99.0
-1.0

2017 JD
100.7
1.7

2018 JD
101.9
1.2

2019 JD
102.4
0.5

2019
September
102.4
0.0
0.1
October
102.4
-0.2
0.0
November
102.4
-0.1
0.0
December
102.5
0.4
0.1
2020
January
102.7
0.5
0.2
February
102.6
0.3
-0.1
March
101.9
-0.5
-0.7
April
101.5
-1.1
-0.4
May
101.3
-1.2
-0.2
June
101.3
-1.0
0.0
July
101.3
-1.1
0.0
August
101.2
-1.1
-0.1
September
101.3
-1.1
0.1

The import prices are also part of the “Crisis Monitor” (www.destatis.de/krisenmonitor), with which the Federal Statistical Office compares the development of important economic indicators in the Corona crisis and in the financial and economic crisis of 2008/2009. Of the Crisis monitor complements the special page Corona statisticswhich has been bundling statistical information on the economic and social consequences of the corona pandemic since the beginning of April.

Specialist series 17 contains detailed information on the statistics of import and export prices, Row 8.1 and Row 8.2.

Long time series can also be accessed via the table Import prices (61411-0006) and Export prices (61421-0006) can be obtained from the GENESIS-Online database.

Contact for more information

MIL OSI

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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