27.07.201802:31:00UTC+00Germany's Import Price Inflation At 14-Month High

Germany's import prices grew at the fastest pace in more than a year in June, figures from Destatis revealed Friday.

Import prices advanced 4.8 percent year-on-year in June, faster than the 3.2 percent increase seen in May and the expected 4.5 percent. This was the third consecutive increase and the fastest since April 2017, when prices gained 6.1 percent.

On a monthly basis, import price inflation eased to 0.5 percent from 1.6 percent a month ago. Nonetheless, this was faster than the 0.3 percent rise economists' had forecast.

Excluding volatile crude oil and mineral product prices, import prices grew 1.9 percent from the same period of last year.

At the same time, export price inflation came in at 1.8 percent, following May's 1.3 percent. On a monthly basis, export prices climbed 0.3 percent, slower than May's 0.5 percent growth.