BERLIN (dpa-AFX) - Germany's import prices increased at the fastest pace in more than a decade in April, data released by Destatis showed on Friday.
Import prices grew 10.3 percent year-on-year in April, following a 6.9 percent rise in March. This was the fastest growth since December 2010 and exceeded the economists' forecast of 10 percent.
On a monthly basis, import price inflation slowed to 1.4 percent from 1.8 percent in the prior month. The rate was forecast to slow to 1.1 percent.
Import prices of energy were up 101.3 percent in April due to the low base of comparison. Excluding energy, import prices gained 4.8 percent.
Data showed that export price inflation accelerated to 3.3 percent in April from 2.2 percent a month ago. Month-on-month, export prices gained 0.8 percent, the same pace of increase as seen in March.
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