Germany's import prices dropped by 1.4% year-on-year in October 2025, following a 1.0% decline in the previous month and coming in better than market expectations of a 1.6% fall. This marked the seventh consecutive month of falling import prices, driven largely by a sharp decline in energy costs (-15.1%), particularly in hard coal (-22.1%), crude oil (-21.1%), and natural gas (-13.7%). Prices also decreased for capital goods (-0.5%), while agricultural imports fell 0.9%, largely weighed by a 22.9% plunge in live pigs. Excluding energy, import prices were unchanged. In contrast, intermediate goods edged slightly higher (0.1%). Consumer goods climbed 0.6%, driven mainly by a 5.4% increase in food prices. Notable surges included shelled hazelnuts (68.7%), coffee (37.9%), and beef (34.3%). On a monthly basis, import prices unexpectedly increased by 0.2% in October, beating market expectations of a flat reading and matching the pace seen in the previous month.