German import, export prices decrease in July

Import prices plunge 13.2% year-on-year in July, largest fall since January 1987, official data shows

By Tuba Ongun

ANKARA (AA) – US import and export prices decreased in July, according to data released Wednesday by the country's statistical authority.

German import prices plunged 13.2% year-on-year last month, posting the largest since January 1987.

July's fall was driven by an 11.4% decline in June and a 9.1% drop in May.

Germany paid 47.4% less for energy imports in July, but they were 1.4% more expensive than in June.

"Natural gas had the biggest influence on the year-on-year rate of change for energy, with prices in July 58.7% lower than they were in July 2022. Compared with June, however, prices were up 0.5%," read the statement.

Export prices dropped 3.2% in July, the largest annual decrease in prices recorded since September 2009.

Kaynak:

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