First an inflation reading over 2 per cent, now this.
German import prices rose 6 per cent in the year to January, the stats office said today, the biggest year-on-year jump since the middle of 2011. That’s well above the previous month’s 3.5 per cent annual gain, and above the 5.5 per cent expected by economists polled by Bloomberg. On the month, prices rose 0.9 per cent, against a 0.5 per cent gain expected.
(Top chart: Bloomberg.)