Global| Sep 28 2011German Export And Import Prices
Summary
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. [...]
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% |
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.
More Economy in Brief
