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Prices for goods imported into Germany continued to fall at the end of last year, dropping 8.5% in December compared to the same month in the previous year, according to figures released on Wednesday. In 2023 as a whole, import prices fell more sharply than at any time since 2009, according to Germany’s Federal Statistical Office. The import price decline was largely driven by a drop in the cost of energy and raw materials, which had skyrocketed over the course of 2022 following Russia’s full-scale invasion of Ukraine. Energy prices in Germany were about a third cheaper in December than a year…

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