FX.co ★ German Import Prices Decline Eases Sharply To 0.4%

Germany's import prices experienced their slowest decline since the downward trend began in March 2023, according to data released by Destatis on Friday.

In May, import prices fell by 0.4 percent year-over-year, a deceleration from the 1.7 percent decrease observed in April. The projected decline had been 0.3 percent.

The modest reduction in May was largely attributed to a 2.6 percent drop in prices for imported intermediate goods, while energy prices saw only a marginal decrease of 0.1 percent.

When energy prices are excluded, import prices were 0.4 percent lower compared to the same period last year but noted a slight increase of 0.1 percent on a monthly basis.

There was an uptick in the prices for imported agricultural goods, consumer goods, and capital goods in May.

On a monthly comparison, import prices remained unchanged in May following a 0.7 percent increase in April.

Export prices, on the other hand, registered an annual increase of 0.2 percent after experiencing a 0.2 percent decline in April. Notably, this marks the first annual rise in two years.