Destatis released its import prices data for Germany on Thursday. German import prices declined by 1.7% in July from last year, after a 1.4% fall in June.

Import prices decline since January 2013.

On a monthly base, import prices decreased 0.7% in July, after a 0.5% fall in June.

On a yearly base, import prices excluding crude oil and mineral oil products climbed by 2.5% in July.

Export prices climbed 1.2% year-on-year in July, after a 1.3% increase in June.

On a monthly base, export prices were up 0.1% in July, after a 0.1% decline in June.