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German import prices post biggest annual rise since 1980 -Breaking

by Mike Robinson

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© Reuters. An aerial view of container loading at the Hamburg port terminal, Germany. August 1, 2018. REUTERS/Fabian Bimmer/File Photos

BERLIN (Reuters), German import prices increased by 21.7% over the October previous year. This was their largest annual increase since January 1980 according to the Federal Statistics Office on Friday.

The increase was driven by higher energy costs. Imports of energy were at 141.0% higher in October 2021 than they were one year ago.

Import prices increased by 3.8% during October, according to the monthly data.

A Reuters poll indicated that there would be a 1.1% rise in monthly sales and a 19.6% increase for the whole year.

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