German import prices continued to fall in November driven by energy prices, data from Destatis revealed on Wednesday.
Import prices decreased 3.8 percent on a yearly basis, following a 3.9 percent drop in October. Prices were forecast to ease 4 percent.
On a monthly basis, import price inflation rose to a five-month high of 0.5 percent from 0.3 percent. The expected rate was 0.4 percent.
Energy prices plunged 27.8 percent annually in November. The import price index excluding energy was 0.8 percent lower from previous year.
At the same time, the decline in export prices slowed to 0.6 percent from 1 percent. Month-on-month, export prices gained 0.4 percent after rising 0.1 percent in October.
The material has been provided by InstaForex Company – www.instaforex.com
- South Africa Consumer Confidence Bounces Back On Increased Willingness To Spend - December 8, 2022
- South Africa Manufacturing Output Growth Slows Unexpectedly - December 8, 2022
- Brazil Retail Sales Rise For Third Month - December 8, 2022