Germany's Import Prices Fall At Faster Pace

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Germany’s import prices dropped at a faster pace in September driven by a sharp fall in energy prices, data released by Destatis revealed Wednesday.

Import prices declined 4.3 percent year-on-year, faster than the 4 percent decrease seen in August.

Data showed that energy import prices were 29.7 percent cheaper in September than in the same period last year. Prices for imported intermediate goods slid 2.5 percent and that of capital goods dropped 1 percent.

Durable goods prices decreased 1.1 percent and consumer goods prices slid 0.3 percent.

On a monthly basis, import price growth improved to 0.3 percent from 0.1 percent.

Excluding energy, import prices gained 0.2 percent on month but fell 1.3 percent on a yearly basis in September.

Further, data showed that export prices decreased 1.1 percent annually, the same pace of decline as seen in August. Month-on-month, export prices edged up 0.1 percent.

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