German Dec. Import Prices Decline At Slower Pace

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Tuesday, Germany's Federal Statistical Office announced that the import price index dropped 1% year-on-year in December, slower than the 5% decline in the previous month. Economists expected a decrease of 1.5%. A year ago, import prices were down 4.1%.

On a monthly basis, import prices rose 0.5% in December, faster than the 0.4% growth in the preceding month. Economists expected a flat reading for December.

The import price index, excluding crude oil and mineral oil products, declined 5.2% annually in December, after falling 6.9% in November.

Meanwhile, export price index dropped 0.4% on an annual basis in December, slowing from a 1.7% fall in the previous month. . Month-on-month, export prices rose 0.2% in December, after a 0.1% growth in November.

On an annual average in 2009, the index of import prices decreased 8.6% from the previous year. During the period, export prices fell 2.2%.

Tuesday, Germany's Federal Statistical Office announced that the import price index dropped 1% year-on-year in December, slower than the 5% decline in the previous month. Economists expected a decrease of 1.5%. A year ago, import prices were down 4.1%. (Market News Provided by RTTNews)