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Financial News: Germany's Import Price Decline Slows In June

Germany's Import Price Decline Slows In June

07/29/2020 - 03:07:00 (RTTNews)

(RTTNews) - Germany's import prices declined at the slowest pace in four months in June, data from Destatis revealed Wednesday.

Import prices declined 5.1 percent year-on-year in June, as expected, following May's 7 percent decrease. This was the slowest fall since February, when prices were down 2 percent.

The annual fall was largely driven by a 37.2 percent decline in energy prices.

On a monthly basis, import price inflation doubled to 0.6 percent from 0.3 percent. This was the second consecutive increase in prices. Prices were forecast to rise 0.5 percent.

Excluding energy, import prices dropped 1.4 percent in June from last year and by 0.4 percent from previous month.

Data showed that export prices fell 1 percent annually after easing 1.2 percent in May. On a monthly basis, export prices remained unchanged after falling 0.2 percent a month ago.

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