Economic Buzz: Germany's import price inflation softens

Germany's import price inflation softened in June, data from Destatis showed Wednesday. Import prices posted an annual increase of 6.1 percent in June, easing from 6.8 percent rise in May. Destatis said the sharp rise in prices of intermediate goods and energy in the wake of the Iran war had the largest impact on import prices. Intermediate goods and energy prices rose 10.3 percent and 23.9 percent, respectively. German import prices were up by 0.1% in June after excluding energy prices.

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