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Thursday, December 2, 2021
HomeNewsEconomyU.S. Import and Export Price Indexes Declined 0.2% in June

U.S. Import and Export Price Indexes Declined 0.2% in June

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)

The U.S. Bureau of Labor Statistics (BLS) said Tuesday U.S. Import and Export Price Indexes declined by 0.2% in June. Like consumer and wholesale inflation, cross-border inflation is basically non-existent.

For imports, prices were driven down for the second straight month due to declining fuel prices. Despite the decline, import prices rose over the past 12 months by 1,5%, slightly below the target. Petroleum prices fell 2.2% last month, marking the fourth consecutive monthly decline.

For exports, a 1.5% decline in agriculture weighed down total prices. Excluding agriculture, export prices were unchanged in June, matching the median economic forecast for the so-called core measure.

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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.

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