Financial News: German Import Prices Rise For Third Month

German Import Prices Rise For Third Month

09/30/2024 - 03:48:00 (RTTNews)

(RTTNews) - Germany's import prices increased for the third straight month in August, though slightly, data from Destatis showed on Monday.

Import prices rose 0.2 percent on a yearly basis in August, slower than the 0.9 percent rise in July.

The slower rise in August was mainly due to a 5.4 percent decline in costs for energy imports. Excluding energy, import prices grew 0.9 percent from last year.

Meanwhile, there was a 2.4 percent growth in prices for imported consumer goods. Higher prices were also seen for agricultural goods, which grew 5.5 percent annually.

Import costs for intermediate goods remained flat, while those for capital goods edged up by 0.1 percent.

Month-on-month, import prices decreased at a stable rate of 0.4 percent in August.

Further, data showed that export price inflation remained stable at 0.8 percent. On a monthly basis, export prices showed a flat change versus a 0.1 percent drop in July.

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