FX.co ★ Germany Import Price Inflation Moderates In February

Germany's import price inflation moderated slightly in February but remained at an elevated level, data from Destatis showed on Tuesday.

Import prices grew 26.3 percent on a yearly basis in February, slower than the 26.9 percent increase in January. The rate was forecast to remain stable at 26.9 percent, which was the strongest since October 1974.

On a monthly basis, import price growth eased to 1.3 percent from 4.3 percent a month ago. The rate was below the economists' forecast of 1.8 percent.

Energy imports were 129.5 percent more expensive in February 2022 than in the previous year. Excluding energy prices, import prices were 14.7 percent higher than a year ago and 1.2 percent higher than in January, data showed.

Import prices of intermediate goods were up 24.3 percent and that of capital goods gained 6.2 percent. Import prices of consumer goods grew 6.3 percent.

Further, data showed that export prices advanced 12.4 percent on a yearly basis in February, the strongest since December 1974. Prices were up 11.9 percent in January. Month-on-month, export prices gained 1.0 percent, following a 1.8 percent rise in January.