India, Feb. 28 -- Germany's import prices grew at the fastest pace in nearly two years in January and retail sales expanded more than expected on food sales, official data revealed Friday.
Import prices registered an annual growth of 3.1 percent in January after rising 2.0 percent in December, Destatis reported. Prices were expected to climb 2.7 percent. The rate was the highest since February 2023.
The increase was largely driven by the 4.5 percent rise in consumer goods prices. Prices for imported agricultural goods advanced 12.0 percent and imported energy prices were up 6.2 percent.
Month-on-month, import prices gained 1.1 percent, faster than the 0.4 percent rise in December. Economists had forecast prices to rise 0.7 percent.
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