October: -0.3% m/m, +6.8% y/y
September: +0.6% m/m, +6.9% y/y
August: -0.7% m/m, +6.6% y/y
—
FRANKFURT (MNI) – Germany’s import prices fell back in October, as
a sharp drop in intermediate goods prices offset costlier energy and
consumer goods, the Federal Statistical Office reported on Friday.
After a brief recovery in September, import prices fell back 0.3%
on the month, reducing the annual rise to 6.8% from 6.9%.
The monthly fall in the core import price index, which factors out
the effects from energy (+1.2% m/m, +28.1% y/y), was a more pronounced
0.6%, giving an annual rise of 2.6%.
Since hitting a two-week high in early November, Brent crude prices
have trended downward and were last trading at $107.90. Other
commodities also took a hit recently after China’s manufacturing PMI
fell to a 32-month low of 48.0 this month on the back of contracting
output and new orders.
The November factory PMI report showed a further fall in German
input prices, which manufacturers linked to cheaper raw material prices.
Intermediate goods import were 1.5% cheaper between September and
October, resulting in an annual rise of 3.8%. Capital goods import
prices were unchanged on the month, but were down 0.3% on the year.
Consumer goods imports were 0.1% costlier on the month, due to the rise
in non-durable goods prices, which lifted prices 4.0% on the year.
Falling 0.2% in October, export prices reached their lowest level
since early summer, the statistics office added. Annual export price
inflation picked up speed, however, to +3.0% after +2.9% in September.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: MTABLE,M$G$$$,MAGDS$,M$XDS$,M$X$$$]
