German import prices fell 0.9% in July amid expectations for a 0.8% drop, and price pressures are likely to remain subdued throughout the second-half of the year as economic activity falters. At the same time, the annualized rate slipped 12.6% from the previous year to mark the biggest decline since July 1986, while export prices slumped 3.6% from 2008. The data foreshadows a weakening outlook for price growth and the European Central Bank is likely to maintain a dovish policy stance going forward as growth and inflation deteriorates.