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Financial News: Germany's Import Prices Rise Most Since 2011

Germany's Import Prices Rise Most Since 2011

03/29/2017 - 02:17:00 (RTTNews)

(RTTNews) - Germany's import prices increased at the fastest pace in nearly six years in February, figures from Destatis showed Wednesday.

Import prices climbed by more-than-expected 7.4 percent year-on-year in February, the highest rise since April 2011, when prices surged 7.6 percent.

Economists had forecast an annual growth of 7 percent. Prices had increased 6 percent in January and 3.5 percent in December.

Month-on-month, import prices rose 0.7 percent in February after climbing 0.9 percent in January, but faster than the expected 0.4 percent rise.

Excluding crude oil and mineral oil products, import prices increased 4.5 percent from prior year in February.

At the same time, export prices climbed 2.5 percent in February from the same period of previous year, faster than January's 1.8 percent increase. On a monthly basis, export prices gained 0.2 percent.

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