German Import Prices Decline At Slower Pace In October

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Germany's import price index dropped 8.1% year-on-year in October, slower than the 11.4% fall in the previous month, the Federal Statistical Office said on Friday. Import prices in September was revised from 11% decline reported initially. Economists expected a decrease of 7.4%. A year ago, import prices were up 1.8%.

On a monthly basis, import prices rose 0.5% in October, after falling 0.9% in September. Economists were looking for an increase of 0.4%.

The import price index, excluding crude oil and mineral oil products, dropped 7.9% on an annual basis in October and it remained unchanged compared to the preceding month.

Meanwhile, export price index decreased 2.6% year-on-year in October, compared to the 3.2% fall in the previous month. Month-on-month, export prices showed a flat reading in October, after falling 0.1% in September.

Germany's import price index dropped 8.1% year-on-year in October, slower than the 11.4% fall in the previous month, the Federal Statistical Office said on Friday. Import prices in September was revised from 11% decline reported initially. Economists expected a decrease of 7.4%. A year ago, import prices were up 1.8%. (Market News Provided by RTTNews)