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Germany Import Prices Fall Most Since 2009

Germany's import prices declined at the fastest pace since late 2009, data published by Destatis revealed Friday.

Import prices slid 7.4 percent on a yearly basis in April after falling 5.5 percent in March. Economists had forecast prices to fall 7.2 percent.

This was the biggest fall since October 2009, when prices dropped 8.1 percent.

Month-on-month, import prices were down 1.8 percent, but slower than the 3.5 percent decrease seen in March and economists' forecast of -1.4 percent.

Excluding crude oil and mineral oil products, import prices decreased 2.6 percent in April compared with last year and dropped 0.6 percent from March.

At the same time, export prices declined at a faster pace of 1.1 percent annually in April after easing 0.5 percent a month ago. On a monthly basis, export prices dropped 0.4 percent versus March's 0.7 percent fall.

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