Germany experienced an uptick in import prices for the first time in three months this past November, according to recent data released by Destatis. On an annual basis, import prices saw a growth of 0.6 percent, marking a reversal from the 0.8 percent decline observed in October.
In terms of month-to-month changes, import prices rose by 0.9 percent, following a 0.6 percent increase in the prior month. This surpasses the anticipated growth rate of 0.5 percent.
A significant factor contributing to the overall rise in import costs was the eased decline in energy prices, which moderated to 8.2 percent from the previous 14.1 percent drop. Excluding energy, import prices recorded a 1.7 percent increase compared to November of the previous year.
Prices for imported consumer goods rose by 3.4 percent, while prices for agricultural goods saw a substantial surge of 8.5 percent. Additionally, prices for intermediate goods climbed by 1.1 percent, and those for capital goods inched up by 0.3 percent.
Furthermore, the data indicated an acceleration in export price inflation to 1.2 percent, compared to 0.6 percent in the preceding month. On a monthly basis, export prices continued to increase steadily at a rate of 0.3 percent.
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