Germany’s import price inflation accelerated to its highest rate since 1981 due to higher energy prices, data published by Destatis revealed on Wednesday.
Import prices grew 16.5 percent on a yearly basis in August, after rising 15 percent in July.
Economists had forecast annual growth of 16.1 percent.
This was the highest annual rate seen since September 1981, when prices were up 17.4 percent.
Month-on-month, import prices were up 1.4 percent, following a 2.2-per-cent rise in July.
Prices had been forecast to grow 1.2 percent.
Destatis said energy imports were 93.6 percent more expensive than in August last year.
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Excluding crude oil and mineral oil products, import prices advanced 13.8 percent.
Data showed that export price inflation rose to 7.2 percent, from 6.3 percent in July.
This was also the biggest annual rate since September 1981.
On a monthly basis, export prices grew 0.7 percent, but slower than the 1.2-per-cent increase logged in July.
