German import prices chalked the biggest gain in nearly 18 years in May, mainly due to surging energy prices, official figures released on Thursday showed.
Import prices in May rose 2.4 percent from April, the biggest increase since September 1990, the Wiesbaden-based the Federal Statistics Office said.
On a year-on-year basis, import prices in Germany jumped 7.9 percent, which is the fastest annual gain since November 2000.
The latest report underscored the mounting inflation pressure on Europe's largest economy, which is due mainly to surging prices on the world energy market.
Compared with April, energy import prices increased 10.1 percent in May with imported crude oil 13.3 percent more expensive, the statistics office said.
From a year earlier, energy import prices gained 46.5 percent.
The Frankfurt-based European Central Bank has signaled that it may raise its benchmark leading rate next month to fight inflation in the euro zone.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article