Destatis released its import prices data for Germany on Wednesday. German import prices declined by 5.9% in March from last year, after a 5.7% fall in February. It was the biggest drop since October 2009.

The decline was driven by a drop in energy prices, which plunged 29.8% year-on-year in March.

Import prices decline since January 2013.

On a monthly base, import prices increased 0.7% in March, after a 0.6% fall in February.

On a yearly base, import prices excluding crude oil and mineral oil products fell by 3.6% in March.

Export prices dropped 1.6% year-on-year in March, after a 1.2% decrease in February.

On a monthly base, export prices were up 0.2% in March, after a 0.5% fall in February.