Germany May import price index -0.1% vs -0.1% m/m expected

Latest data released by Destatis - 28 June 2019

• Prior +0.3%
• Import price index -0.2% vs -0.2% y/y expected
• Prior +1.4%

Slight delay in the release by the source. The figures are in-line with expectations but the dip in import prices relative to a year ago isn't a comforting sign of inflationary pressures. That said, the data here is a lagging indicator and one that is only a proxy read of inflation. We already had German June CPI figures yesterday so that's a better read of where inflation in the German economy is sitting currently.