FRANKFURT (MktNews) - Despite the continued volatility on world oil markets, mid-March oil prices stood at about $25 per barrel, or "more than 25% under the peak in September 2000," the Bundesbank said in its monthly report for March.
The BBK noted that German CPI rose "strongly" in February (+0.5% m/m) due in large part to higher prices for petroleum and other energy products.
Under the influence of the decline in oil prices in January, German import prices fell in that month, noting that the rise in the euro's exchange rate also helped to reduce import prices.