Import prices were 13.0% lower in October 2023 compared with October 2022. The Federal Statistical Office (Destatis) also reports that the year-on-year change rate was -14.3% in September 2023 and -16.4% in August 2023. The large decreases are still primarily due to a base effect originating from the high price increases in 2022 as a result of the war in Ukraine. Compared with September 2023, import prices were up 0.3% in October 2023.Export prices in October 2023 were down 2.4% compared with October 2022. Compared with the previous month, export prices fell slightly (-0.1%). Year-on-year import prices decreased due ... (full story)