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- German import prices fell sharply in March
German import prices fell sharply in March
As reported by the Federal Statistical Office (Destatis), the index of import prices decreased by 5.5% in March 2020 compared with the corresponding month of the preceding year. This has been the highest price decrease compared to the previous year since May 2016 (-5.7%). In February 2020 and in January 2020 the annual rates of change were -2.0% and -0.9%, respectively. From February 2020 to March 2020 the index fell by 3.5%.
The index of import prices, excluding crude oil and mineral oil products, decreased in March 2020 by 2.2% compared with March 2019 and in comparison with February 2020 it fell by 0.9%.
The index of export prices decreased by 0.5% in March 2020 compared with the corresponding month of the preceding year. This has been the highest price decrease compared to the previous year since September 2016 (-0.7%). In February 2020 and in January 2020 the annual rates of change were +0.3% and +0.5%, respectively. From February 2020 to March 2020 the index fell by 0.7%.
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