Data published by the Federal Statistical Office (Destatis) showed that retail sales rose by 0.8% in February, accelerating from January (+0.7%, revised from +0.2%), and recording the largest increase since September 2024.Economists had expected sales to remain unchanged.
In annual terms, retail sales rose by 4.9% after increasing by 3.3% in January (revised from +2.9%). This was the 7th increase in a row and the strongest increase since February 2022. Consensus estimates suggested a 3.2% increase.
The Destatis said that food sales increased by 0.8% m/m in January. Compared to February 2024, food sales rose by 3.3%. Meanwhile, sales of non-food products increased by 0.6% on a monthly basis and by 5.2% per year. In e-commerce and mail orders, sales in February increased by 1.0% compared to the previous month and by 15.4% per year.
A separate report showed that import prices increased in February by 3.6% compared to February 2024. This was the largest increase since January 2023 (+5.3%). Compared with the same month a year earlier, the rate of change was +3.1% in January 2025. The Destatis also reports that import prices in February rose by 0.3% compared to January. Economists had expected an increase of 3.8% year-on-year and a decrease of 0.1% compared to January.