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Germany's import prices fall at slower pace in July

Staff Writer | August 30, 2016
Germany's import prices continued to fall in July but the pace of decline slowed for the third straight month, Destatis reported.
German economy
European economy   Import prices declined 2.4 percent in Germany
Import prices decreased 3.8 percent year-on-year in July, slower than the 4.6 percent decline seen in June and the expected fall of 4 percent.

A similar slower pace was last seen in January and this was the slowest since December, when prices slid 3.1 percent.

Month-on-month, import prices gained 0.1 percent, confounding expectations for a 0.1 percent drop. Import prices had increased 0.5 percent in June.

Excluding crude oil and mineral oil products, import prices declined 2.4 percent from the same period of last year.

At the same time, export prices decreased 1.2 percent from prior year, following a 1.3 percent fall. On a monthly basis, import prices rose 0.2 percent.