Germany’s import prices increased for the first time in nearly two years in February, data released by Destatis showed on Tuesday.

Import prices advanced 1.4 percent year-on-year in February, reversing a 1.2 percent drop in January. This was the first increase in import prices since April 2019.

Economists had forecast an annual growth of 1.1 percent for February.

On a monthly basis, import price inflation slowed to 1.7 percent from 1.9 percent in the previous month.

Excluding energy, import prices advanced 1 percent on both monthly and annual comparison. Energy prices advanced 5.2 percent from last year.

Export prices grew 0.7 percent year-on-year, following a 0.1 percent rise in January. Month-on-month, export prices gained 0.5 percent versus a 0.9 percent rise in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

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