Germany Import Prices Fall Most Since Early 2024

(RTTNews) - Germany's import prices declined the most since early 2024 on a sharp decline in energy prices, Destatis said Tuesday.

Import prices registered an annual decline of 1.5 percent after decreasing 1.4 percent in July. The 1.5 percent fall marked the biggest since April 2024.

The fall reflected a sharp 15.6 percent decrease in energy prices. Excluding energy prices, import prices remained unchanged from the previous year.

Prices of intermediate goods fell 1.0 percent and capital goods prices eased 0.5 percent. Prices of durable goods declined 1.1 percent, while non-durable goods gained 2.0 percent.

Month-on-month, import prices dropped 0.5 percent in August, following a 0.4 percent drop.

Export prices rose at a slower pace of 0.5 percent annually after increasing 0.6 percent in July. On a monthly basis, export prices edged down 0.1 percent compared to a 0.2 percent drop in the previous month.