Financial News: German Import Price Fall For Second Month

German Import Price Fall For Second Month

11/29/2024 - 03:46:00 (RTTNews)

(RTTNews) - Germany's import prices declined for the second straight month in October but the pace of decline slowed, Destatis said Friday.

Import prices registered an annual fall of 0.8 percent following a 1.3 percent decrease in September. Economists had forecast prices to fall 1.2 percent.

Month-on-month, import prices grew 0.6 percent, in contrast to the 0.4 percent decline in the previous month. Prices increased for the first time in four months.

The annual fall in import prices largely reflects the 14.1 percent decline in energy prices. Excluding energy, import prices were 0.9 percent higher than in October.

Data showed that export price inflation accelerated to 0.6 percent from 0.4 percent a month ago. On a monthly basis, export prices moved up 0.3 percent, reversing a 0.1 percent fall in September.

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