German Import Prices Continue To Fall

(RTTNews) - Germany's import prices continued to fall in February driven by the decline in energy prices, data published by Destatis showed Tuesday.

Import prices dropped 2.3 percent year-on-year in February, the same rate of decrease as seen in January. The 2.3 percent fall was the biggest since March 2024.

On a monthly basis, import prices grew at a slower pace of 0.3 percent after rising 1.1 percent in January.

The decrease in energy prices was the primary contributor to the annual fall, with energy prices plunging 20.9 percent in March. However, energy prices rose 0.9 percent compared to January. The war in the Middle East did not impact the February results, Destatis said.

Excluding energy prices, import prices were down 0.2 percent from the last year. Compared to the previous month, import prices gained 0.2 percent.

Further, data showed that export prices edged down 0.1 percent from a year ago, in contrast to the 0.2 percent rise in January. Month-on-month, export prices rose 0.1 percent following January's 0.9 percent increase.