Germany's import prices up 1st time in 16 months

Import prices see 0.7% hike year-on-year in June and 0.4% on monthly basis in Germany due to energy, consumer goods prices

By Gokhan Ergocun

ISTANBUL (AA) - Germany's import prices rose 0.7% year-on-year in June, for the first time since February 2023, federal statistical authority Destatis revealed on Wednesday.

Import prices have been decreasing for the last 15 months, while it dropped by 0.4% in May and 1.7% in April, official figures showed.

"The increase in the prices of imported energy (+4.3%) and consumer goods (+1.8%) compared with the same month of the previous year had the biggest impact on the overall development of import prices in June 2024," it expressed.

Export prices, meanwhile, in June were 0.6% higher versus June 2023; the year-on-year rate of change was 0.2% in May 2024, and -0.2% in April 2024.

Destatis also reported that import prices in June 2024 were up 0.4% on May 2024, and export prices were up 0.3%.

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