German import prices fell for the 36th month running

German import prices fell 1.2% from November to December last year — recording their 36th year-on-year decline.

The drop was a slightly bigger than analysts’ forecasts, which came in at 1.1%.

Year-on-year, Germany’s import price index fell 3.1% in December, slowing from the 3.5% figure recorded in November.

With oil prices at a low and global demand slumping, the Eurozone faces the risk that deflation will nudge the economy into recession.

European Central Bank President Mario Draghi noted this in his speech this month, saying there were “no limits” on how far the central bank would go to hit its 2% inflation target.

Monetary policy could be eased in March as a result, Draghi said.

NOW WATCH: 5 of the most successful ‘Shark Tank’ stories of all time

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.