Germany’s import prices climbed 2.3% yoy in March 2026, rebounding from a 2.3% decline in each of the previous three months and above the forecast of 1.6%. This marked the first increase in import prices since March 2025 and the fastest pace since February 2025, driven largely by a 13.2% rise in energy costs, as prices increased for mineral oil products (41.6%), crude oil (24.6%), and electricity (4.4%). Intermediate goods prices also rose 4.1%, driven by increases in non-ferrous metals and semi-finished non-ferrous metal products (25.8%) and precious metals (58.4%). Capital goods prices also rose 0.6%, while consumer goods prices fell 1.9%, with both durable (-1.1%) and non-durable goods (-2.1%) declining. Meanwhile, agricultural product cost fell 6.2%, led by sharp declines in raw cocoa (-57.8%) and green coffee (-14.4%). Monthly, import prices rose 3.6%, accelerating sharply from February’s 0.3% and above market expectations of 3%, marking the fastest pace since March 2022.