Import Fuel Prices Decline After Gaining 25.4% Over Previous 4 Months
The U.S. Bureau of Labor Statistics reported U.S. imports declined 0.3% on lower fuel costs in May, while export prices fell 0.2%.
| Indicator | Prior | Prior Revised | Consensus Forecast | Forecast Range | Actual |
| Import Prices – M/M ∆ | 0.2% | 0.1% | -0.3% | -0.5% to 0.2% | -0.3% |
| Import Prices – Y/Y ∆ | 0.2% | -1.3% | -1.5% | ||
| Export Prices – M/M ∆ | 0.2% | 0.1% | 0.1% | -0.2% to 0.5% | -0.2% |
| Export Prices – Y/Y ∆ | 0.3% | 0.0% | -0.7% |
This follows an increase of 0.1% for imports during the previous month. Exports rose 0.1% in April, 0.8% in March, and 0.6% in February.
Imports
This is the first monthly decline for imports since a 1.4% decline in December. Fuel prices fell 1.0% in May after rising 25.4% over the previous 4 months.
Exports
This is the first monthly decline for export prices since the index fell 0.6% in January. Exports fell 0.7% over the past 12 months, the largest over-the-year decline since the index declined 1.1% in October 2016.
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