(RTTNews) - Germany’s import prices fell 1.3% year-on-year in November, in contrast to a 2.9% rise in October, a report by the Federal Statistical Office said Monday. The statistical agency said this was the lowest year-on-year rate since March 2004, when prices fell 1.6%. Excluding crude oil, and mineral oil products, import prices rose 3.2%.

Compared to the previous month, import prices fell 3.4%. Analysts expected prices to drop 2.4%.

Meanwhile, the export prices rose 1% year-on-year in November, reversing the 2% rise in October. On a monthly basis, prices fell 0.9%. This was the steepest monthly decline since January 1968, when prices declined 0.9%.

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