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German import prices rose by 0.3% yoy in November

The German import prices rose by 0.3% yoy in November, this is the first annual increase since November 2012, when there was a 1% increase. In October and September, the annual changes in import prices were respectively -0.6% and -1.8%, indicating the German statistical office Destatis. Excluding oil and oil products, import prices grew by 0.4% yoy.

On a monthly basis, the German import prices increased by 0.7% in November, which represents a slowdown in growth. In October, the increase was 0.9%. However, the current value is above market expectations, which were for growth of 0.2%.

Meanwhile, the index of German export prices rose 0.3% year-on-year in November. In October and September, the annual rates of change were 0.1% and -0.6% respectively. On a sequential basis, export price index was up 0.5% in November.

The German statistical office Destatis also released the report for orders in the main construction industry for the month of October. The orders, on a seasonally and working-day adjusted grew 10.1% in sequential terms. When compared with October 2015, the turnover in building construction and civil and underground engineering, in establishment of enterprises with 20 or more employees, rose by 0.3%.

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