UPDATE 1-German import prices show smallest annual increase in two years

(Adds context) BERLIN, March 31 (Reuters) - German import prices in February registered their smallest increase in two years as energy prices eased. February import prices were up 2.8% year on year, the statistics office said on Friday. Analysts polled by Reuters had expected a 4.2% increase. December and January's import prices had risen by 12.6% and 6.6% respectively and February's increase was the smallest since the same month in 2021. The year-on-year increase in February was mainly because of high prices for consumer and capital goods, while import prices for energy decreased by 8.1%, the statistics office said.

The war in Ukraine led to import prices rising by an average of 26.3% in 2022, the highest growth since the 1974 oil crisis. Since September, however, inflationary pressure has eased somewhat.

Compared with the previous month, import prices fell in February by 2.4% for their sixth consecutive decline. Analysts polled by Reuters had expected a monthly decline of 1%. Since the German economy sources many intermediate products and raw materials from abroad, falling import prices have a delayed impact on general inflation.

German consumer prices, harmonised to compare with other European Union countries, rose by an annual 7.8% in March, the lowest rate since April 2022.

The statistics office offers more detailed economic data for import prices on its website.
(Reporting by Maria Martinez, Rene Wagner and Matthias Williams Editing by Rachel More and David Goodman )

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-German import prices show smallest annual increase in two years

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio