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Germany's import prices decreased for the first time in more than a year in February, figures from Destatis showed Tuesday.
Import prices dropped 0.6 percent year-on-year in February, in contrast to January's 0.7 percent increase. This was the first decrease since October 2016 and bigger than the expected 0.3 percent fall.
Month-on-month, import prices slid 0.6 percent versus a 0.5 percent rise in January. Economists had forecast a 0.3 percent drop.
Excluding crude oil and mineral oil products, import prices decreased 1 percent from the same period of last year.
Further, data showed that export prices grew 0.5 percent on year in February after gaining 0.7 percent a month ago. At the same time, prices remained flat on month versus January's 0.3 percent increase.
