29.01.201802:23:00UTC+00German Import Price Inflation Lowest Since Late 2016

German import price inflation in December was the lowest in over a year, though prices rose during the whole year 2017, erasing the decline seen in the previous year, preliminary data from the statistical office Destatis showed Monday.

The import price index climbed 1.1 percent year-on-year, which was sharply slower than the 2.7 percent increase in November. The latest gain was the smallest since November 2016, when import prices rose just 0.3 percent.

On a month-on-month basis, import prices grew 0.3 percent in December.

For the whole year 2017, import prices rose 3.8 percent versus a 3.1 percent fall in 2016. The latest increase was the highest since 2011, when import prices jumped 6.4 percent.

Excluding crude oil and mineral oil products, imports prices rose an average 2.7 percent in 2017. In December, prices climbed 0.4 percent from a year ago and edged up 0.1 percent from the previous month.

Export prices rose 1 percent year-on-year after a 1.2 percent increase in November. On a month-on-month basis, export prices rose 0.1 percent. During 2017, export prices rose an average 1.8 percent, which was the highest since 2011, when they rose 3.3 percent.