German import prices down 14.3% in September – Times of India

by The Technical Blogs

BERLIN: German import prices fell 14.3% in September year on year, the statistics office said on Tuesday, continuing a downward trend started a year ago.
Analysts polled by Reuters had predicted a 15.1% decrease.
The large decline is primarily due to a base effect from the large price increases in 2022 as a result of the war in Ukraine, the statistics office said.
Since the German economy sources many intermediate products and raw materials from abroad, falling import prices have a delayed impact on general inflation.
Inflation in Germany eased noticeably in October, falling to 3.0%, its lowest level since August 2021.
Fewer companies in Germany expect to raise their prices in the months ahead, the Ifo institute‘s business survey showed on Tuesday.
Price expectations fell to 15.3 points in October, down from 15.7 points in September, the survey showed.
The most noticeable drop was in consumer-related industries, Ifo said.
“This means that consumer prices will still continue to rise. However, the pace will ease off and with it inflation,” said Timo Wollmershaeuser, head of forecasts at Ifo.

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