Financial News: German Import Prices Fall Further In February

German Import Prices Fall Further In February

04/05/2024 - 04:07:00 (RTTNews)

(RTTNews) - Germany's import prices continued to decline in February, largely due to cheaper energy costs, data released by Destatis showed on Friday.

Import prices dropped 4.9 percent year-over-year in February, though slower than the 5.9 percent decline in January. The expected decrease was 4.6 percent. Prices have been falling since March 2023.

Data showed that energy import prices plunged 20.7 percent annually, mainly linked to a sharp fall in natural gas.

Prices of imported intermediate goods decreased by 6.8 percent. Meanwhile, capital goods prices rose 0.5 percent.

On a monthly basis, import prices dropped 0.2 percent in February after remaining flat in the previous month.

Data showed that export prices declined 1.1 percent in February from the previous year after a 1.3 percent fall in the prior month. Export prices posted a monthly rise of 0.2 percent in February, following a 0.1 percent rebound a month ago.

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