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German Import Prices See Strongest Monthly Rise In Almost 18 Years |
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News Archive |
Written by CEP News |
Jun 26 08 07:11 GMT |
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(CEP News) Frankfurt - On Thursday, the Federal Statistics Office (Destatis) reported that the German import price index rose 2.4% in May month-over-month, up from both the 1.5% increase expected and the 0.9% growth rate observed in April. May's monthly rise is the largest recorded since September 1990, when the index had increased 2.5%.
"The index of import prices, excluding crude oil and mineral oil products, was 2.0% above the level of May 2007," Destatis added. In annualized terms, import prices jumped 7.9%, the highest increase since November 2000. Economists had forecast a growth rate of 6.9% following April's 5.7% increase. By Todd Wailoo,
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