Germany's import prices declined at a slower pace in November on weak energy prices, data from Destatis revealed Monday.
On a yearly basis, import prices decreased by less-than-expected 2.1 percent, following a 3.5 percent fall in October. A similar slower fall was last seen in July. Prices were expected to decline 2.3 percent.
The annual drop was largely driven by a 12.9 percent decrease in energy prices. Excluding energy, import prices were 0.6 percent below the level of November 2018. Compared to October, prices dropped 0.1 percent.
Overall import prices rose 0.5 percent month-on-month, in contrast to a 0.1 percent fall in October. Economists had forecast a 0.4 percent rise.
At the same time, export prices slid 0.1 percent annually after easing 0.2 percent in October. On month, export prices remained flat in November, as seen in October.