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Germany's import price inflation slowed for the sixth consecutive month March, and came in below economists' forecast, data released by the Federal Statistical Office showed Friday.
The import price index increased 3.1 percent on an annual basis in March, notably slower than the 3.5 percent growth seen in February. Economists were looking for a 3.3 percent rise. The rate of growth slowed for the sixth consecutive month.
Import prices of energy products climbed 13.1 percent year-on-year during the month, contributing significantly to the overall increase. Prices, excluding crude oil and petroleum products, moved up 1.4 percent during the month.
On a monthly basis, import prices moved up at a slower rate of 0.7 percent in March than the previous month's 1 percent. Prices, excluding energy products, remained unchanged month-on-month, the agency said.
