German import prices suffer bigger than expected decline in September

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.