The index of export prices in Germany dropped 0.9 percent in November compared to October, a record month-on-month fall in 40 years for the world's biggest exporter, German Federal Statistical Office said on Monday. "A price decrease of this height compared to the previous month was last time observed in January 1968," said the Wiesbaden-based office in a press release.
On the year-on-year basis, the export prices for the biggest economy of Europe still rose in November, but in a smaller scale. The index of export prices increased by 1.0 percent in November compared with November 2007. In October and in September, however, the annual rates of change were 2.0 percent and 2.8 percent respectively.
The index of import prices in Germany decreased by 1.3 percent in November compared with November 2007, hitting a four-year low. "This was the lowest year-on-year rate since March 2004" which stood at minus 1.6 percent, said the office.
In October and in September, the year-on-year rate of change was 2.9 percent and 7.6 percent respectively. On the monthly basis, the office said from October to November 2008, the index of import prices fell by 3.4 percent.
On the year-on-year basis, the export prices for the biggest economy of Europe still rose in November, but in a smaller scale. The index of export prices increased by 1.0 percent in November compared with November 2007. In October and in September, however, the annual rates of change were 2.0 percent and 2.8 percent respectively.
The index of import prices in Germany decreased by 1.3 percent in November compared with November 2007, hitting a four-year low. "This was the lowest year-on-year rate since March 2004" which stood at minus 1.6 percent, said the office.
In October and in September, the year-on-year rate of change was 2.9 percent and 7.6 percent respectively. On the monthly basis, the office said from October to November 2008, the index of import prices fell by 3.4 percent.
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