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German import prices down 11 percent in September

German import prices down 11 percent in September

German import prices fell 11 percent in September compared with the same month a year ago, as fuel prices in particular declined, the Federal Statistical Office said Wednesday.
Import prices fell 0.9 percent compared to August, the office said.
The statistical office, based in Wiesbaden, said export prices also decreased 3.2 percent compared to September 2008, while prices for exports fell 1 percent compared with August.
The office said import prices were most affected by the 38 percent fall in energy prices during September.
Metals, metal products and ores also showed steep declines, as did the import prices for most foods.
In a separate preliminary report, the German Institute for Economic Research, or DIW, said the German economy, Europe's biggest, probably grew by 0.8 percent in the third quarter, compared to the second quarter. However, the group said the country's economic activity is probably still 5 percent below year-ago levels.
It said the current analysis strengthens earlier economic estimates.
"Since the low at the beginning of the year, economic activity in Germany could have improved around 1 percent," the group said.
Germany's export-fueled economy returned to modest growth in the second quarter following a deep recession.
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On the Net:
http://www.destatis.de
http://www.diw.de


Updated : 2021-01-20 19:14 GMT+08:00