Record price increase for imports in May

On average imported goods were 7.9% more expensive in May 2008 than in May last year. This increase is the highest since November 2000, according to the Federal Statistical Office. One the previous month, April, the import price index increased by 2.4% which is a month-to-month increase not registered since September 1990 (+2.5%).

Particularly high was the annual price increase for the import of energy carriers in May 2008 (+46.5%). Since April 2008 prices rose by 10.1% . Crude oil was 56.8% more expensive (on the previous month: +13.3%), prices for mineral products were up by 48.0% (on the previous month: +13.2%). Without taking into account price increases for crude oil and mineral oil products the import price index in May 2008 increased by 2.0% as compared to May 2007.

Prices for ores increased by 39.1% over one year and by 9.0% since April this year following a March/Apri1 increase of 21.9%. Import prices for pig iron, steel and metal alloys increased by 9.6% and 5.0% respectively. The annual prices increase for imports of non-ferrous metals was 2.3% (on the previous month +2.5%).

The export prices index in May 2008 was up by 2.3% on May last year and by 0.4% as compared to April 2008. GERMAN