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Economy in Brief

German Export And Import Prices
by Robert Brusca  September 28, 2011

German export and import prices are each falling in August. Excluding petroleum, both export and import prices fell. But over three months export prices are rising and import prices are falling both with and without petroleum prices.

Over 12-months export and import prices are traveling faster than CPI inflation and core PPI inflation. Import price inflation has moved lower since the oil price bursts have slipped farther into the past. German CPI and CPI core inflation trends are decelerating for 12-months to 6-months to 3-months. So are export and import inflation trends. Germany is showing diminishing inflation across exports imports Consumer prices and producer prices.

German International and Domestic Inflation Trends
  % M/M % SAAR
SA Aug-11 Jul-11 Jun-11 3-Mo 6-Mo 12-Mo Yr-Ago
Export P -0.1% 0.3% 0.0% 0.7% 1.1% 3.2% 4.2%
Import P -1.0% 0.8% -0.9% -4.7% -3.1% 6.4% 8.5%
NSA
ExpX-Petrol -0.1% 0.3% 0.0% 0.7% 1.5% 2.7% 3.9%
ImpX-Petrol -0.6% 0.7% -0.6% -2.1% 0.2% 5.9% 8.4%
Memo: SA
CPI -0.1% 0.3% 0.0% 0.7% 1.6% 2.2% 1.0%
  CPIx-energy 0.1% 0.2% 0.0% 1.1% 1.7% 1.4% 0.8%
PPI -0.1% 0.7% -0.2% 1.7% 3.2% 5.5% 3.2%
  PPIx-Energy -0.1% 0.2% 0.1% 0.7% 1.3% 3.3% 2.5%
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