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Germany's import prices grew at the fastest pace in more than a year in July, data from Destatis showed Thursday.
Import price inflation accelerated to 5 percent in July from 4.8 percent in June. This was the fastest rate since April 2017, when prices advanced 6.1 percent but slower than the expected 5.2 percent.
Excluding crude oil and mineral oil products, import prices grew 2.1 percent from the previous year.
Month-on-month, import prices decreased 0.2 percent, reversing a 0.5 percent rise in June. This was the first fall in five months. Economists had forecast prices to remain flat in July.
Data showed that export prices advanced at a slightly faster rate of 1.9 percent in July after rising 1.8 percent in June. On month, export prices remained flat after rising 0.3 percent in June.
