German import prices dip in September
Annual decline of 14.3% indicates second largest fall since November 1986
By Tuba Ongun
Germany's import prices plunge 14.3% year-on-year in September, marking the second largest fall since November 1986, according to official data released on Tuesday.
The figure followed a 16.4% decline in August and 13.2% in July, Destatis said in a statement.
The sharp fall was due to a base effect coming from the Russia-Ukraine war-related price hikes last year.
Cost of energy imports plummeted 47.4% from September 2022 with natural gas prices dipping 69.2% in the same period.
On a monthly basis, import prices increased 1.6%, following a 0.4% rise in August.
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