27.03.201802:13:00UTC+00Germany's Import Prices Fall For First Time Since 2016

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.