Germany Import Prices Rise 0.7%, More Than Expected

(RTTNews) - Germany's import prices increased for the first time in sixteen months in June, and at a faster-than-expected pace, data released by Destatis showed on Wednesday.

Import prices climbed 0.7 percent year-over-year in June, reversing a 0.4 percent fall in May. The expected increase was 0.5 percent.

The overall increase in June was mainly driven by a 4.3 percent rise in imported energy. A 1.8 percent growth in prices for consumer goods also impacted.

Excluding energy prices, import prices were 0.3 percent higher compared to last year, while they remained flat on a monthly basis.

Data showed that there were increased prices for imported agricultural goods and capital goods during June.

Month-on-month, import prices moved up 0.4 percent in June after showing a null change in May. Prices were expected to rise slightly by 0.1 percent.

Data showed that export prices registered an annual increase of 0.6 percent after a 0.2 percent gain in May. Further, this was the second successive monthly rise. .