Financial News: Germany Import Prices Continue To Fall

Germany Import Prices Continue To Fall

04/30/2024 - 02:57:00 (RTTNews)

(RTTNews) - Germany's import prices continued to decline in March but the pace of decrease slowed further, data from Destatis showed on Tuesday.

Import prices dropped 3.6 percent annually after easing 4.9 percent in February. Prices were expected to fall 3.8 percent in March.

The annual fall in import prices was largely due to lower prices of intermediate goods and energy. Imported intermediate goods prices decreased 5.9 percent. At the same time, energy imports were 15.1 percent cheaper than in March 2023.

Excluding energy, import prices dropped 2.3 percent annually. Month-on-month, import prices were up 0.4 percent.

On a monthly basis, import prices gained 0.4 percent, reversing a 0.2 percent drop a month ago.

Data showed that export prices registered an annual fall of 1.0 percent after a 1.1 percent drop. At the same time, the monthly increase in export prices eased to 0.1 percent from 0.2 percent.

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