Published by Mark Smith-HalvorsenHigher oil prices continued to weigh on import costs in Germany in November, official figures show.According to the Federal Statistical Office, the high cost of importing crude and basic goods more than offset a drop in capital and consumer imports, resulting in a rise of 0.4 per cent over the month.MNI newswire reports that as a result the annual decline in import costs has decreased from -8.1 per cent to -5 per cent.Earlier this month, the Bundesbank predicted that prices would continue to rise moderately through to 2012."Other durable and non-durable consumer goods prices should ease gradually in line with producer price developments and under the impact of global overcapacity, while services and rents are likely to reflect the flatter wage," the central bank said.Companies who deal with large import volumes may wish to develop a flexible, robust foreign exchange buying policy to help manage overheads effectively.For more information on international payments, visit our Smart FX site