Financial News: Germany Import Prices Rise 0.7%, More Than Expected

Germany Import Prices Rise 0.7%, More Than Expected

07/31/2024 - 03:40:00 (RTTNews)

(RTTNews) - Germany's import prices increased for the first time in sixteen months in June, and at a faster-than-expected pace, data released by Destatis showed on Wednesday.

Import prices climbed 0.7 percent year-over-year in June, reversing a 0.4 percent fall in May. The expected increase was 0.5 percent.

The overall increase in June was mainly driven by a 4.3 percent rise in imported energy. A 1.8 percent growth in prices for consumer goods also impacted.

Excluding energy prices, import prices were 0.3 percent higher compared to last year, while they remained flat on a monthly basis.

Data showed that there were increased prices for imported agricultural goods and capital goods during June.

Month-on-month, import prices moved up 0.4 percent in June after showing a null change in May. Prices were expected to rise slightly by 0.1 percent.

Data showed that export prices registered an annual increase of 0.6 percent after a 0.2 percent gain in May. Further, this was the second successive monthly rise. .

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan GDP Data On Tap For Monday (01 hr(s), 0 min(s),11 sec(s) ago)
(RTTNews) - Japan will on Monday release Q2 figures for gross domestic product, highlighting a mod ...Full Story»

Swiss Consumers More Pessimistic In August (09 hr(s), 06 min(s), 11 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (09 hr(s), 39 min(s), 11 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (10 hr(s), 16 min(s), 11 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (10 hr(s), 23 min(s), 11 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (10 hr(s), 49 min(s), 11 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (11 hr(s), 16 min(s), 11 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (12 hr(s), 03 min(s), 11 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»