Forex News

Inflation of import prices in Germany reached a 14-month high

Import prices in Germany rose at the fastest pace in more than a year in June, according to data from Destatis published on Friday.

Import prices rose 4.8 percent compared to the previous year in June after rising by 3 , 2 percent in May. It was expected that the growth will be 4.5 percent. It was the third consecutive growth and the fastest since April 2017, when prices rose by 6.1 percent.

On a monthly basis, import price inflation fell to 0.5 percent from 1.6 percent a month ago. Nevertheless, it was projected that growth would be 0.3 percent.

Excluding the price of crude oil and mineral products, import prices increased by 1.9 percent compared to the same period last year.

At the same time, inflation export prices was 1.8 percent, after 1.3 percent in May. In monthly terms, export prices increased by 0.3 percent after the May growth of 0.5 percent.