Press release No. 536 of 26 November 2021
Import prices, October 2021
+3.8% on the previous month
+21.7% on the same month a year earlier
Export prices, October 2021
+1.4% on the previous month
+9.5% on the same month a year earlier
WIESBADEN – As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 21.7% in October 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year change since January 1980 (+21.8%, on January 1979). In September 2021 and in August 2021 the annual rates of change were +17.7% and +16.5%, respectively. From September 2021 to October 2021 the index rose by 3.8%.
High price increase mainly caused by energy price development
In October 2021 energy imports were 141.0% more expensive than in October 2020. The largest influence on the year-on-year rate of energy price increase had natural gas with a plus of 193.9% as well as crude oil with a plus of 105.9%.
The index of import prices, excluding crude oil and mineral oil products, increased by 17.5% in October 2021 compared with October 2020 and in comparison with September 2021 it rose by 3.0%.
The index of export prices increased by 9.5% in October 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year-change since January 1975 (+10.5% on January 1974). In September 2021 and in August 2021 the annual rates of change were +8.1% and +7.2%, respectively. From September 2021 to October 2021 the index rose by 1.4%.
More detailed data and long time series are available in tables Index of import prices (61411-0002 and 61411-0006) and Index of export prices (61421-0002 and 61421-0006) in the GENESIS-Online database.
Crisis monitor allows comparison between corona crisis and and financial and economic crisis
The import price index is also part of the "Crisis monitor", which is used by the Federal Statistical Office to compare the development of major short-term indicators between the corona crisis and the financial and economic crisis of 2008/2009. The "Crisis monitor" complements the "Corona statistics" webpage, which has provided statistical information on the economic and social consequences of the corona pandemic since early April.
