ISTANBUL

Germany's import prices jumped 26.3% in 2022 on an annually basis, official figures showed on Tuesday.

According to the Federal Statistical Office (Destatis), annual price increases stemmed from higher imported energy prices, which increased 111.2% last year.

Natural gas prices soared 178.6%, mineral oil increased 74.8%, and crude oil rose 57.8% year-on-year in 2022.

In December alone, import prices were also up by 12.6% versus December 2021.

In the export side, prices were up by 14.6% during 2022 and 10.6% in December.