Financial News: German Import Prices Rise 0.6% In November

German Import Prices Rise 0.6% In November

12/23/2024 - 02:26:00 (RTTNews)

(RTTNews) - Germany's import prices increased for the first time in three months in November, data from Destatis showed on Monday.

Import prices registered an annual increase of 0.6 percent, reversing a 0.8 percent decrease in October.

Month-on-month, import prices grew 0.9 percent, after rising 0.6 percent in the previous month. The expected rise was 0.5 percent.

The annual decline in energy eased notably to 8.2 percent from 14.1 percent, which largely drove the overall growth in import costs. Excluding energy, import prices were 1.7 percent higher than in November last year.

Imported prices for consumer goods rose 3.4 percent, and those for agricultural goods surged 8.5 percent. Prices for intermediate and capital goods climbed 1.1 percent and 0.3 percent, respectively.

Data showed that export price inflation accelerated to 1.2 percent from 0.6 percent a month ago. On a monthly basis, export prices increased at a stable pace of 0.3 percent.

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