German import prices suffer bigger than expected decline in September

Germany’s import price index declined more than expected in September, data released on Wednesday showed.

According to figures released by Destatis, Germany’s statistical office, the import price index fell 0.7% month-on-month, compared with analysts’ expectations for a 0.2% decline and with a 1.5% drop the previous month.

On a year-on-year basis, the index, which measures the change in price for goods imported by Germany and is a key gauge in distinguishing changes in trade volume versus changes in trade prices, fell 4% in September.

The figure was slightly lower than consensus for a 3.5% decline and sharply below the 3.1% fall registered last month.