Investing.com – German import prices declined more-than-expected in August, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said that German import prices fell by 0.7% in August, after declining by 0.8% in July.
Analysts had expected German import prices to fall by 0.3% in August.
Year-over-year, German import prices rose at an annualized rate of 6.6% in August, below expectations for a 6.7% increase, after rising at a rate of 7.5% in July.
Following the release of the data, the U.S. dollar was fractionally higher against the euro, with EUR/USD easing down 0.05% to trade at 1.3579.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.8%, France’s CAC 40 futures retreated 0.9%, the FTSE 100 futures slumped 1%, while Germany's DAX futures pointed to a drop of 0.7%.
In a report, Destatis, Germany’s federal statistical office said that German import prices fell by 0.7% in August, after declining by 0.8% in July.
Analysts had expected German import prices to fall by 0.3% in August.
Year-over-year, German import prices rose at an annualized rate of 6.6% in August, below expectations for a 6.7% increase, after rising at a rate of 7.5% in July.
Following the release of the data, the U.S. dollar was fractionally higher against the euro, with EUR/USD easing down 0.05% to trade at 1.3579.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.8%, France’s CAC 40 futures retreated 0.9%, the FTSE 100 futures slumped 1%, while Germany's DAX futures pointed to a drop of 0.7%.