German Import Price Inflation Rises Further

(RTTNews) - Germany's import priceinflation continued to rise in July, a report by the Federal Statistical Office showed on Friday.

The import price index rose 9.9% year-on-year in July, faster than 9.1% in the previous month. Economists had expected an increase of 9.7%. Import prices increased for the seventh consecutive month. A year earlier, import prices were down 13%.

Month-on-month, import prices fell 0.2% in July, in contrast to a 0.9% increase in the previous month. Economists were looking for a decline of 0.4%.
The index of import prices, excluding crude oil and mineral oil products, increased 7.5% on an annual basis and remained unchanged compared to the preceding month.
The index of export prices increased 4.1% annually in July, faster than 3.9% rise in June. This was the highest year-on-year-price increase since June 1982. Monthly, export prices remained unchanged in July.