German Import Prices Fall At Faster Pace

(RTTNews) - Germany's import prices declined at a faster pace in October due the sharp fall in energy prices, Destatis reported on Friday.

Import prices slid 1.4 percent in October from a year ago, after falling 1.0 percent in September. Prices have been falling since April.

The annual fall was largely driven by the 15.1 percent decline in energy prices. Moreover, prices of capital goods and consumer goods were down 0.5 percent and 1.0 percent, respectively.

Meanwhile, intermediate goods prices edged up 0.1 percent and consumer goods prices rose 0.9 percent.

Excluding energy, import prices remained unchanged from the previous year.

Data showed that export price inflation softened to 0.5 percent from 0.6 percent in September.

Month-on-month, import and export prices moved up 0.2 percent each in October.