Germany’s import price inflation accelerated in August on higher intermediate and energy prices, data from Destatis showed Tuesday.
Import prices advanced 2.1 percent year-on-year in August, faster than the 1.9 percent increase seen in July. The annual rate came in line with expectations.
Month-on-month, import prices remained flat after easing 0.4 percent in July. Prices were forecast to climb 0.1 percent.
Excluding crude oil and mineral oil products, import prices increased 1.7 percent on a yearly basis.
Import prices of intermediate goods were 4 percent more expensive than in the previous year. Energy import prices advanced 9.4 percent annually.
Export price inflation held steady at 1.5 percent in August.
Likewise, on a monthly basis, export prices rose 0.1 percent for the second straight month.
Source: RTT News