German import prices 0.4% lower YoY in May; export prices 0.2% higher

Export prices in May were 0.2 per cent higher YoY. They fell by 0.2 per cent in April and 1 per cent in March. Such prices remained unchanged MoM in the month.

The 2.6-per cent YoY decline in the prices of imported intermediate goods had the biggest impact on the overall development of import prices in May this year, a Destatis release noted.

Compared with April this year, the prices of intermediate goods were up by 0.5 per cent in May.

Prices of energy imports in May were hardly down YoY (minus 0.1 per cent), while they dropped by 0.7 per cent MoM.

When energy prices are excluded, import prices in May were also 0.4 per cent lower YoY and up by 0.1 per cent MoM.

Consumer goods import prices were up by 1.3 per cent YoY and down by 0.1 per cent MoM in May this year.

Capital goods import prices were also higher than a year earlier (plus 0.2 per cent). Compared with April 2024, they were also slightly down (minus 0.1 per cent).

The drop in the prices of intermediate goods also had the biggest influence on the overall development of export prices. Exports of intermediate goods were 1.5 per cent less expensive than in May 2023.

Capital goods were exported at prices which were 1.8 per cent higher than a year earlier. The prices of exported consumer goods were also up compared with the previous year (plus 1.7 per cent).

Fibre2Fashion News Desk (DS)