Global| Jun 26 2007German Export and Import Price Inflation
Summary
German export and import inflation is less more subdued than are domestic trends. German export and import prices excluding energy flared to peaks in the second half of 2006. But now as they subside, it is Germany domestic excluding [...]
German export and import inflation is less more subdued than are domestic trends.
German export and import prices excluding energy flared to peaks in the second half of 2006. But now as they subside, it is Germany domestic excluding energy inflation that has flared.
German PPI prices excluding energy has flared in early 2007 then showed some sign of settling down. It is the German CPI where prices look to be still building. By May nonpetroleum import prices were rising at the same pace as CPI ex energy prices. The CPI ex-energy seems to have peaked in May but not yet declined.
| % m/m | % SAAR | ||||||
| SA | May-07 | Apr-07 | Mar-07 | 3-Mo | 6-Mo | 12-Mo | Yr-Ago |
| Export Prices | 0.3% | 0.2% | 0.0% | 1.9% | 1.5% | 1.8% | 2.7% |
| Import Prices | 0.3% | 0.8% | -0.1% | 4.2% | 1.5% | 0.6% | 7.5% |
| NSA | |||||||
| Exports excl Petroleum | 0.1% | 0.3% | 0.1% | 1.9% | 1.5% | 1.9% | 2.5% |
| Imports excl Petroleum | 0.0% | 0.3% | 0.1% | 1.6% | 0.6% | 1.3% | 4.2% |
| Memo: SA | |||||||
| CPI | 0.2% | 0.4% | 0.3% | 3.6% | 2.7% | 1.9% | 1.9% |
| CPI excl Energy | 0.1% | 0.4% | 0.1% | 2.2% | 1.9% | 1.9% | 0.7% |
| PPI | 0.3% | 0.1% | 0.2% | 2.4% | 1.5% | 1.9% | 6.2% |
| PPI excl Energy | 0.2% | 0.4% | 0.1% | 2.6% | 2.2% | 2.6% | 2.3% |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
