Germany November import prices +0.5% vs +0.2% m/m expected

Recent data reveals that Germany's import prices for November 2023 rose by 0.5% month-on-month, surpassing the expected increase of 0.2%. This marks a significant rise from the previous month's rate of +0.2% and serves as an important indicator of the German economy. The increase is largely attributed to energy prices, which showed a 15.7% decline year-on-year but a 3.1% increase on a monthly basis. This data illustrates how volatility in energy prices can significantly impact import prices. Excluding energy, import prices decreased by 0.3% year-on-year while increasing by 0.3% month-on-month. This indicates that while energy costs are surging, the stability of other import prices provides key insights into Germany's trade dynamics. Market reactions to this information and subsequent trends will be closely monitored.