CAPTION: German import price inflation moderates in February. (picture alliance / dpa)
German import price inflation moderated slightly in February, but remained at an elevated level, data from Destatis showed.
Import prices grew 26.3% on a yearly basis in February, slower than the 26.9% increase in January. The rate was forecast to remain stable at 26.9%, which was the strongest since October 1974.
On a monthly basis, import price growth eased to 1.3%, from 4.3% a month ago. The rate was below the economists' forecast of 1.8%.
Energy imports were 129.5% more expensive in February 2022 than in the previous year. Excluding energy prices, import prices were 14.7% higher than a year ago and 1.2% higher than in January, data showed.
Import prices of intermediate goods were up 24.3% and that of capital goods gained 6.2%. Import prices of consumer goods grew 6.3%. Further, data showed that export prices advanced 12.4% on a yearly basis in February, the strongest since December 1974.
Prices were up 11.9% in January. Month-on-month, export prices gained 1.0%, following a 1.8% rise in January.
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