16.10.201803:14:00UTC+00Germany's Import Price Inflation Steady At 4.8%

Germany's import prices rose at a steady pace in August, figures from Destatis showed Tuesday.

Import prices advanced 4.8 percent year-on-year in August, the same pace of increase as seen in July. Economists had forecast the rate to accelerate to 5.2 percent.

The increase in import prices was mainly driven by a 33.2 percent surge in import prices of energy. Excluding crude oil and mineral oil products, import prices increased by 2.5 percent.

Month-on-month, import prices remained flat, in line with expectations, after easing 0.1 percent in July.

At the same time, export price inflation rose to 2.1 percent in August from 1.7 percent in the previous month. On a monthly basis, export prices gained 0.2 percent, following a 0.1 percent rise in July.