Germany’s import prices declined at a faster-than-expected pace in June, data from Destatis showed Monday.
Import prices slid 1.4 percent year-over-year in June, just above economists’ expectations for a 1.3 percent decrease. In May, prices had fallen 0.8 percent.
The import price index has been falling since January 2013.
Excluding energy, import prices rose 2.6 percent in June from the previous year, while energy prices alone tumbled by 23.9 percent.
Month-on-month, import prices fell at a faster pace of 0.5 percent in June, following a 0.2 percent drop in the preceding month. Economists had forecast a 0.3 percent decline for the month. It was the second successive monthly decrease.
At the same time, export price index grew 1.3 percent annually in June after a 1.4 percent climb in May. Prices have been rising since September last year.
On a monthly basis, export prices dropped for the second straight month in June by 0.1 percent, following a 0.2 percent fall in the prior month.
The material has been provided by InstaForex Company – www.instaforex.com