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Germany import price inflation eases more than forecast

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Staff Writer | June 28, 2017
German GDP
Europe   Figures from Destatis

Germany's import price inflation eased at a faster-than-expected pace in May after remaining stable in the prior month, figures from Destatis showed Wednesday.

Import prices climbed 4.1% year-over-year in May, slower than the 6.1% steady rate of increase in April. Economists had expected the inflation to moderate to 4.6%.

The measure has been rising since November last year.

Excluding energy, imports prices grew 3.0% in May from a year ago. Energy prices alone surged by 15.7%.

On a monthly basis, import prices dropped 1.0% from April, when it increased by 0.1%. It was forecast to drop by 0.6%.

Data also shower that export prices rose at a slower rate of 2.2% yearly in May, following a 2.6% gain in April. Month-on-month, export prices edged down 0.2%, reversing a 0.2% rise in the prior month.

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