Germany Import Prices Decline Most Since 1987

 @ibtimes
on August 26 2009 2:19 AM

RTTNews - Wednesday, Germany's Federal Statistical Office announced that the import prices decreased 12.6% year-on-year in July, compared to the 11.3% fall in the previous month. This was the highest price decline since February 1987. Economists were looking for a decline of 12.5%. A year earlier, import prices had grown 8.3%.

On a monthly basis, import prices dropped 0.9% in July, in contrast to the 0.4% increase in the previous
month. Economists had expected an increase of 0.8%.

In July, import prices, excluding crude oil and mineral oil products, dropped 6.8% on an annual basis and it was down 0.6% compared to the preceding month.

Meanwhile, export prices decreased 3.6% year-on-year in July, after falling 2.9% in June. Month-on-month, export prices fell 0.2%, following a 0.1% increase in June.

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