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Financial News: Germany Import Prices Decline In May

Germany Import Prices Decline In May

06/26/2020 - 02:35:00 (RTTNews)

(RTTNews) - Germany's import prices declined notably in May but the annual pace of fall slowed from April, data published by Destatis revealed Friday.

Import prices decreased 7 percent on a yearly basis in May, slower than the 7.4 percent drop seen in April.

Month-on-month, import prices advanced 0.3 percent, the first rise seen so far this year. Prices had declined 1.8 percent in April.

Excluding energy, import prices fell 0.2 percent on month and declined 1.3 percent from the same period last year. Energy prices logged an annual fall of 50.6 percent, while increased 9 percent on month.

At the same time, export prices declined 1.2 percent from last year after easing 1.1 percent in April. This was the biggest fall since July 2016, when prices were down 1.5 percent.

On a monthly basis, the decline in export prices halved to 0.2 percent from 0.4 percent.

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