Moderate rise in import prices

According to the Federal Statistical Office, the import price index was up by 0.4% in July 2007 as compared to July last year. Thus, the increase was smaller than in June (+1.3%) and May (+0.6%) this year. The export price index was up by 1.6% in July this year as compared to July 2006.

Particularly strong increased import prices for pig iron, steel and iron alloys in July 2007 (+16.2%) while the prices for non-ferrous metals and semi-finished products thereof increased by 4.6% as compared to 2006.

In the food industry prices increased most for corn imports (+38.8%), milk and dairy products (+10.4%), raw cacao (+9.7%) and raw coffee (+5.9%) while imported meat was 9.4% cheaper as compared to last year.

Cheaper than one year ago were data processing devices and equipment (- 29.7%) as well as eletronic components (- 15.8%).

While the prices for imports of hard coal rose by 2.6% and for imports of crude oil by 0.5%, prices for natural gas and mineral oil products fell by -14.3% and -5.0%) respectively.

The prices for energy increased by 3.0% in July as compared to June which corresponds to a total increase of 20.3% since January this year. Prices for crude oil rose by 6.4% in July 2007 as compared to June so that the total increase since January amounts to 36.1%. Prices for the import of mineral oil products also increased in July as compared to June (+1.1%) while hard coal imports were 0.7% cheaper. Prices for natural gas fell by -0.5% as compared to June. Thus, natural gas was by 15.3% cheaper in July than nine months ago. GERMAN