September: -0.7% m/m, +1.8% y/y
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
—
FRANKFURT (MNI) – Import prices in Germany fell back in September
due to declines in most major components led by energy, the Federal
Statistical Office reported on Friday.
After August’s strong 1.3% rise, import prices slipped 0.7% in
September, dampening the annual increase to 1.8%.
Energy imports were 3.3% cheaper on the month, with crude oil
prices down 4.2% and natural gas prices down 4.4%. On the year, energy
costs were up 5.7%.
The core rate, which factors out energy, was down a more modest
0.1% on the month, resulting in a yearly rise of 0.8%.
The International Energy Agency sees oil market fundamentals easing
over the medium term, theoretically permitting a $20 decline in barrel
prices by 2017.
However, “oil prices are expected to remain volatile over the
forecast period amid heightened supply and demand uncertainty,” the
agency cautioned earlier this month.
Capital goods imports were 0.4% cheaper on the month, resulting in
an annual rise of 1.6%. Consumer goods import prices were also 0.4%
lower, in large part due to the 0.7% monthly fall in durable goods
prices. As a result, the year-on-year rate came to +2.6%.
Bucking the trend, intermediate goods prices rebounded 0.2% on the
month, but were still down 1.0% in annual terms.
Export prices were down 0.1% on the month, slowing the annual rate
to +1.7%.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: MTABLE,M$G$$$,MAGDS$,M$XDS$,M$X$$$]
