German import prices up sharply again: data

24th September 2010, Comments 0 comments

German import prices posted more strong gains in August but were off the searing pace seen in the previous two months, official data showed on Friday.

Import prices for Europe's biggest economy jumped 8.6 percent in August on an annualised basis but were still down from nearly 10-year highs of 9.9 percent in July and 9.1 percent in June, the Destatis statistics office said.

On a monthly basis, August import prices rose 0.2 percent from July when they had posted an exceptional decline of the same amount, the data showed.

Petroleum products helped fuel the the steep climb in August. Even when they were excluded, August import prices was still up 7.4 percent from a year earlier and up 0.3 percent from July.

Across the 16-nation eurozone meanwhile, consumer prices were 1.6 percent higher in August, down slightly from the previous month, and comfortably below the European Central Bank's medium-term target of just under 2.0 percent.

© 2010 AFP

0 Comments To This Article