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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (28479)	1/26/2008 11:57:35 PM
From: elmatador	Respond to of 218617

German Import Price Inflation Accelerates on Food imported goods gained 3.7 percent from a year earlier after increasing 3.5 percent in November German Import Price Inflation Accelerates on Food By Gabi Thesing Jan. 25 (Bloomberg) -- German import prices, an early indicator of inflation pressure in the economy, rose the most in over a year in December, led by the cost of food. The price of imported goods gained 3.7 percent from a year earlier after increasing 3.5 percent in November, the Federal Statistics Office in Wiesbaden said today. That's the highest rate since September 2006. Economists expected a gain of 3.8 percent, the median of 20 forecasts in a Bloomberg News survey shows. From November, they fell 0.1 percent. Inflation in Europe's largest economy accelerated last year to the fastest pace since records began in 1996, even as a stronger euro blunted some of the impact of rising energy and food prices. European Central Bank President Jean-Claude Trichet has said policy makers are prepared to raise the 4 percent benchmark interest rate to head off an inflation spiral. ``The dynamic of rising food and commodity prices offset the strong euro,'' said Kenneth Broux, an economist at Lloyds TSB Group Plc in London. ``This will continue to feed into consumer prices.'' Consumer prices rose 2.3 percent in 2007, using a harmonized European Union method, the first year the increase in Europe's largest economy breached the ECB's limit. Measured by national rules, inflation averaged 2.2 percent, the highest level since 1994. At the same time, the euro appreciated 11 percent. In December, the cost of imported grain rose 53.3 percent from a year earlier and the price of coal gained 25 percent. For the full year, imported grain prices gained 40 percent and coal gained 8 percent. German import prices rose 1.2 percent last year and export prices gained 1.8 percent.