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Financial News: Germany Import Prices Fall Most In Nearly 4

Germany Import Prices Fall Most In Nearly 4 Years

04/29/2020 - 07:33:00 (RTTNews)

(RTTNews) - German import prices decreased for the eleventh straight month in March and at the fastest pace in near four years, data from Destatis showed on Wednesday.

Import prices decreased 5.5 percent year-on-year in March, following a 2.0 percent fall in February. Economists had expected a 4.0 percent decrease.

The decline was the most severe since May 2016, when prices fell 5.7 percent, Destatis said.

On a monthly basis, import prices fell 3.5 percent in March, following a 0.9 percent decline in the previous month. Economists had expected a 2.5 percent decrease.

Excluding oil, import prices decreased 2.2 percent from last year, and they fell 0.9 percent from the previous month.

Data showed that export prices fell 0.5 percent annually in March after rising 0.3 percent in the prior month. That was the worst decline since September 2016, when they fell 0.7 percent.

On month-on-month basis, export prices fell 0.7 percent in March, following a 0.1 percent decline in the preceding month.

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