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German import price growth weakest in 7 months

Staff Writer |
German import prices increased at the slowest pace in seven months in June, data from Destatis showed Tuesday.

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Import prices increased 2.5% year-on-year in June, slower than the 4.1% rise in May. This was the weakest increase since November, when prices gained 0.3%. Economists had expected prices to rise 2.9%.

Month-on-month, import prices decreased 1.1% in June versus the expected drop of 0.7%.

Excluding crude oil and mineral oil products, import prices advanced 2.6% from the previous year.

At the same time, export prices advanced 1.8% on a yearly basis, after climbing 2.2% a month ago. Month-on-month, export prices dropped 0.2% in June.

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