DAX Slips Ahead Of Consumer Inflation Data
(RTTNews) - German stocks fell in cautious trade on Wednesday as caution prevailed ahead of a House of Representative's vote on the U.S. debt ceiling deal later in the day.
Meanwhile, Germany's import prices declined at the fastest pace since 2009 due to a sharp fall in energy prices, Destatis reported earlier today.
Import prices declined 7.0 percent on a yearly basis in April, following a 3.8 percent drop in March. This was the biggest decrease since October 2009.
At the same time, export prices registered an annual increase of 1.1 percent but slower than the 2.3 percent rise in March.
Destatis is slated to publish flash consumer price data later today. Consumer price inflation is expected to rise slightly to 7.3 percent in May from 7.2 percent in April.
The benchmark DAX was down 45 points, or 0.3 percent, at 15,854 after declining 0.3 percent in the previous session.
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