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(CEP News) - According to the German Federal Statistics Office on Wednesday, import prices for the country advanced 0.6% month-over-month in July, slightly above forecasts for a 0.5% gain but slower than June's 1.5% increase.
In annual terms, import prices moved up 9.3%, also just above the projected 9.2% rate and faster than June's 8.9% increase. Excluding energy, import prices moved up 0.6% on the month and 3.5% on the year compared to previous gains of 0.5% and 2.5% respectively. Meanwhile, export price advanced 0.5% month-over-month in July, matching June's increase, and expanded 3.3% on the year compared to the previous month's 2.7% gain. The news comes ahead of the release of regional CPI figures for August, which will be followed by the national figures at some point on Wednesday. Headline CPI for Germany is expected to decline 0.2% month-over-month following July's 0.6% gain while annual inflation is expected at 3.2% compared to 3.3% in July. Harmonized with the euro zone, CPI is expected to contract 0.2% on the month after July's 0.7% increase, while annual HICP is projected at 3.4%, lower than the previous month's 3.5% level. By Erik Kevin Franco,
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, edited by Nancy Girgis,
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