August: +1.3% m/m, +3.2% y/y
July: +0.7% m/m, +1.2% y/y
June: -1.5% m/m, +1.3% y/y
May: -0.7% m/m, +2.2% y/y
—
FRANKFURT (MNI) – German import price inflation hit a six-month
high in annual terms in August on the back of costlier energy products,
the Federal Statistical Office reported on Thursday.
Building on July’s 0.7% rebound, import prices gained an additional
1.3% on the month – their highest rate of increase since January – to
lift the annual rate to +3.2%.
Excluding energy imports, core import prices were unchanged m/m to
give an annual growth rate of +1.2%.
With Brent crude prices up over 10% on average in August, crude oil
imports were 9.1% more expensive on the month and 16.8% costlier on the
year. Mineral oil product prices were up 8.7% and 15.9% on the month and
year, respectively.
Intermediate goods import prices fell 0.2% m/m, resulting in an
annual rate of -1.1%.
Capital goods imports were 0.1% more expensive on the month and up
2.1% on the year. Consumer goods import prices were also 0.1% higher
m/m, while the annual rate came to +4.0%.
Export prices climbed 0.4% on the month in August, slightly faster
than in July, lifting the annual rate 0.4 percentage point to +1.8%, a
four-month high.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: MTABLE,M$G$$$,MAGDS$,M$XDS$,M$X$$$]
