AlwaysFree: Germany’s October Import Prices Soared Steepest Since 1980

In October, Germany’s import prices index soared by the steepest rate since January 1980 as energy import prices skyrocketed.

According to the Federal Statistical Office, the import prices index increased by 21.7% year-on-year in October.

In comparison, in September the rise was 17.7% and in August it was 16.5%.

The monthly change for the import prices index was a 3.8% rise in October.

In the face value, energy imports were 141% more expensive than in October 2020 as natural gas import prices in October soared by 193.9% from the previous year and crude oil import prices were up by 105.9%.

Annually, the  index of import prices, excluding crude oil and mineral oil products, increased by 17.5% in October.

Tags: AlwaysFree,Crude Oil,English,Europe,Gas,Germany,West Europe