Widget Image
Follow PPD Social Media
Follow Us:
People's Pundit Locals Community
Monday, December 6, 2021
HomeNewsEconomyImport Prices Fell Less Than Expected in November, But Decreased Tanked Over Prior 12 Months

Import Prices Fell Less Than Expected in November, But Decreased Tanked Over Prior 12 Months

trade-cargo-reuters
trade-cargo-reuters

A Ferrari cargo crane moves shipping containing on a U.S. trade port. (Photo: Reuters)

The Labor Department reported on Thursday import prices declined less than expected in November, falling 0.4% compared to the 0.7% economists expected. Meanwhile, export prices fell 0.6%, far more than the 0.3% forecast.

Import prices, which decreased by a revised 0.3% in October, have declined in 15 of the last 17 months. Further, in the 12 months through November, prices tanked by 9.4%. The strength of the U.S. dollar and a sharp decline in oil prices have dampened inflation, leaving it running well below the Federal Reserve’s 2 percent target.

The report also showed export prices decreased 0.6 percent last month after slipping 0.2 percent in October. They were down 6.3 percent in the 12 months through November.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial