BERLIN (dpa-AFX) - Germany's import prices declined for the third straight month in June due to falling energy prices, Destatis reported Thursday.
Import prices dropped 1.4 percent in June from a year ago, sharper than the 1.1 percent decrease seen in May. This was the third consecutive fall. Economists had forecast an annual drop of 1.6 percent.
The sharp decrease in energy prices had the biggest impact on overall import prices, Destatis said. Energy prices plunged 13.6 percent. Excluding energy, import prices were up 0.1 percent from June 2024.
Import prices of intermediate goods declined 1.2 percent and that of capital goods slid 0.5 percent. Meanwhile, imported prices of consumer goods grew 2.1 percent.
On a monthly basis, import prices remained flat after falling 0.7 percent in May.
Further, data showed that export price inflation softened to 0.7 percent in June from 1.0 percent in May. Month-on-month, export prices edged down 0.1 percent in June.
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