2020.03.3109:38:00UTC+00German Import Prices Fall More Than Expected

German import prices decreased at the fastest pace in three months in February and at a faster than expected pace, figures from the Federal Statistical Office showed on Tuesday.

The import price index dropped 2 percent year-on-year after a 0.9 percent fall in the previous month. Economists had forecast a 1.5 percent fall. The latest fall was the worst since November, when import prices shrunk 2.1 percent.

On a month-on-month basis, import prices decreased 0.9 percent in February, which was far worse than the 0.3 percent drop economists had expected.

Excluding crude oil and mineral oil products, import prices decreased 1.5 percent year-on-year in February, while they were unchanged from the previous month.

The index of export prices rose 0.3 percent year-on-year after a 0.5 percent increase in January. Prices fell slightly by 0.1 percent from the previous month.