Financial News: German Import Prices Fall At Slower Pace

German Import Prices Fall At Slower Pace

05/31/2024 - 03:47:00 (RTTNews)

(RTTNews) - Germany's import prices declined at the weakest pace in the current sequence of decreases, which started in March 2023, data released by Destatis showed on Friday.

Import prices dropped 1.7 percent year-over-year in April, though slower than the 3.6 percent decline in March. The expected decrease was 1.8 percent.

Data showed that the decline in energy import prices eased to 7.0 percent in April from 15.1 percent in March.

Prices of imported intermediate goods decreased by 4.1 percent versus a decline of 5.9 percent in the prior month.

Meanwhile, prices for imported agricultural products grew by 1.7 percent, and those for consumer goods climbed by 1.5 percent. Prices for capital goods were also 0.3 percent higher compared to last year.

On a monthly basis, import prices gained 0.7 percent, following a 0.4 percent increase a month ago.

Data showed that export prices registered an annual fall of 0.2 percent after a 1.0 percent drop in March. At the same time, the monthly increase in export prices accelerated to 0.4 percent from 0.1 percent.

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