Technical Analysis

Germany November import price index -4.5% vs -1.6% m/m expected

  • Prior -1.2%
  • Import price index +14.5% vs +18.0% y/y expected
  • Prior +23.5%

That’s a big drop in German import prices on the month, coming in well below estimates as we see a third monthly decline – the first since May 2020. The decline owes much to a fall in energy prices, which was seen down by 16.1% relative to October. However, even so, energy imports remain 37.9% more expensive than they were in the same period a year ago.

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