German import price index rises y/y in November for first time in four years

German import price index rose on a year-on-year basis in November, the first yearly rate rise since November 2012. According to the Federal Statistical Office (Destatis), the index of import prices rose 0.3 percent year, as compared with the decline of 0.6 percent year-on-year in October. The import price index had dropped 1.8 percent in the month of September. Meanwhile, on a sequential basis, the index of import prices rose 0.7 percent, a slowdown from October’s month-on-month rise of 0.9 percent.

Excluding crude oil and mineral oil products, the import price index rose 0.4 percent on a year-on-year basis. Meanwhile, the index of export prices rose 0.3 percent year-on-year in November. In October and September, the annual rates of change were 0.1 percent and -0.6 percent respectively. On a sequential basis, export price index was up 0.5 percent in November.

Destatis also released the report for orders in the main construction industry for the month of October. Orders, on a seasonally and working-day adjusted grew 10.1 percent in sequential terms. When compared with October 2015 turnover in building construction and civil and underground engineering, in establishment of enterprises with 20 or more persons, rose 0.3 percent.

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