Import prices in Germany were 3.6 per cent lower year on year (YoY) and up by 0.4 per cent month on month (MoM) in March this year, according to the Federal Statistical Office (Destatis). The YoY rate of change was minus 4.9 per cent in February this year and minus 5.9 per cent in January.

Export prices in March were 1 per cent lower YoY and 0.1 per cent higher MoM. The YoY rate of change was minus 1.1 per cent in February and minus 1.3 per cent in January this year.

The 5.9-per cent YoY decline in the prices of imported intermediate goods had the biggest impact on the overall development of import prices in March this year, Destatis said in a release. Intermediate goods prices were up 0.6 per cent MoM.

The prices of energy imports in March this year were down by 15.1 per cent YoY and up by 0.2 per cent MoM. Natural gas had the biggest influence on the YoY rate of change for energy, with prices in March 35.3 per cent lower than they were in the same month last year.

Excluding energy prices, import prices in March were 2.3 per cent lower YoY and up by 0.4 per cent MoM.

Prices of consumer goods were up by 0.4 per cent YoY and 0.3 per cent MoM in March.

The prices of durable consumer goods only registered a slight increase (0.1 per cent), both YoY and MoM.

Energy export prices were 21.3 per cent lower YoY and 4.4 per cent lower MoM in March.

Fibre2Fashion News Desk (DS)

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