(RTTNews) - German import prices increased 7.9% year-on-year in April after logging 5% rise in March, the Federal Statistical Office said Friday. That was the highest price increase since August 2008, when import prices grew 8.3%. Economists had forecast 7.1% increase for April.
On a monthly basis import prices were up 2%. Prices were expected to climb 1.5%. It follows 1.7% growth in March.
The index of import prices, excluding crude oil and mineral oil products, was 3.3% above the level of a year earlier. It went up 1.4% compared to March 2010.
Further, the statistical office said the index of export prices climbed 3% in April from the corresponding month of the preceding year. This was the highest year-on-year-price increase since November 2000, when prices rose 3.5%. In March, export prices logged 2% growth. From March 2010 to April 2010 the index rose by 1%.
Import and export price data came a day after the statistical office released preliminary estimate on May consumer price inflation. According to the report, consumer prices grew 1.2% annually in May, faster than 1% rise in April, led by a sharp rise in energy prices.
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