U.S. import prices fell unexpectedly in May, driven by lower prices for energy products. Import prices declined by 0.4%, while export prices fell by 0.6%. The topline import price index dropped by 0.3%, with the ex-petroleum metric falling by 0.4%. On a year-over-year basis, import prices rose by 1.1%. Core import price inflation was reported at 0.5%. Fuel import prices saw a significant decrease of 2% in May. The real (inflation-adjusted) quantity of imports will be larger than the nominal amount for May. This data suggests a trend of disinflation, providing a positive outlook for domestic inflation.
Fuel import prices fell 2% in May, helping drag down overall import prices 0.4% while Y/Y change was flat at 1.1%; the real (inflation-adjusted) quantity of imports, therefore, will be larger than the nominal amount for May: https://t.co/GPEplJkEjv
🇺🇸Imports -0.4% in May: lower fuel & nonfuel import prices contributed to decline Import price #inflation: 1.1% Core import price #inflation: 0.5% Both have recently turned positive for 1st time since late '22, but remain historically low after a prolonged period of deflation https://t.co/Zo8AnIttTx
Further evidence of disinflation via the import channel in May. Big decline in May import prices with the topline down 0.3% & the ex petroleum metric falling 0.4%. On a year ago basis import prices up 1.1%. The data this week- for a data dependent Fed-tends to suggest that the…
So much for inflation re-accelerating…. In May… Import prices fall (-0.4%), Export prices fall (-0.6%). https://t.co/ujx3PU2cFY
🔵 US IMPORT PRICES UNEXPECTEDLY FALL IN MAY U.S. import prices import unexpectedly fell in May amid lower prices for energy products, providing another boost to the domestic inflation outlook. Full Story via Reuters on PiQ Suite - Link in Bio https://t.co/9vDdNOOQPT