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Germany's Import Prices Continue To Fall In January

German import prices continued to fall in January, data from Destatis revealed on Friday.

Import prices declined 1.2 percent year-on-year, but slower than the 3.4 percent decrease seen in December and economists' forecast of -2.1 percent.

The annual fall was largely driven by a 13.1 percent drop in energy import prices. Excluding energy, import prices were 0.3 percent higher than in the previous year.

On a monthly basis, import price inflation rose notably to 1.9 percent from 0.6 percent in December. Economists had forecast prices to climb 0.9 percent.

Data showed that export prices grew for the first time in eleven months in January. Prices edged up 0.1 percent annually, reversing a 0.6 percent fall in December.

Month-on-month, export prices gained 0.9 percent, faster than the 0.1 percent rise in the previous month.

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