German import prices have recorded the strongest annual increase since 1980 – Nach Welt

Aerial view of containers at a loading terminal in the port of Hamburg

BERLIN (Reuters) – The German import prices rose in October compared to the same month last year by 21.7% and thus recorded the largest annual increase since January 1980, announced the Federal Statistical Office on Friday.

Higher energy costs drove the increase. In October 2021, energy imports were 141.0% more expensive than in the same month of the previous year.

In a month-on-month comparison, import prices rose by 3.8% in October.

A Reuters poll showed an increase of 2.1% from the month and an increase of 19.6% from the year.

(Writing by Paul Carrel; Editing by Riham Alkousaa)

Reference-www.nach-welt.com

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