28.08.202011:30:00UTC+00Germany Import Prices Decline At A Softer Pace

Germany's import prices declined in July, albeit at a softer pace, data from Destatis revealed on Friday.

Import prices declined 4.6 percent year-on-year in July, following a 5.1 percent decrease in June. Economists had expected a 4.7 percent fall.

The annual fall was largely driven by a 31.5 percent decline in energy prices.

Excluding energy, import prices fell 1.4 percent in July from last year.

On a monthly basis, import prices rose 0.3 percent in July, after a 0.6 percent decline in the prior month. Prices were forecast to rise 0.2 percent.

Data showed that export prices fell 1.1 percent annually, following a 1.0 percent decline in June. On a monthly basis, export prices remained unchanged in July.