Import prices were softer than expected in August at -0.3% M/M (cons -0.2), and more notably import prices ex-petroleum at -0.1% M/M (cons 0.2).
This ex-oil category came after a downward revised 0.1% in July but it was offset by an upward revised 0.2% in June (the latter albeit obscured by rounding).
Having somewhat matched the year-to-date strength seen in core PPI inflation, this latest reading is more in keeping with core goods CPI inflation.
Looking more broadly, non-oil import prices have printed 1.1-1.2% Y/Y increases for three months now vs -1.3% Y/Y at the start of the year.
USD weakness suggests there could be some further increases ahead although the relationship is unsurprisingly weak considering the relatively closed nature of the US economy.
US DATA: Non-Oil Import Prices Surprise Lower In August
Last updated at:Sep-13 12:42By: Chris Harrison
US
Import prices were softer than expected in August at -0.3% M/M (cons -0.2), and more notably import prices ex-petroleum at -0.1% M/M (cons 0.2).
This ex-oil category came after a downward revised 0.1% in July but it was offset by an upward revised 0.2% in June (the latter albeit obscured by rounding).
Having somewhat matched the year-to-date strength seen in core PPI inflation, this latest reading is more in keeping with core goods CPI inflation.
Looking more broadly, non-oil import prices have printed 1.1-1.2% Y/Y increases for three months now vs -1.3% Y/Y at the start of the year.
USD weakness suggests there could be some further increases ahead although the relationship is unsurprisingly weak considering the relatively closed nature of the US economy.
