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Tuesday, October 15, 2019
HomeNewsEconomyImport Prices Decline More than Export Prices in May

Import Prices Decline More than Export Prices in May

Logistics and transportation of import export container cargo ship, cargo plane with working crane bridge in shipyard at sunrise, logistic import export and transport industry background. (Photo: ADobeStock)

Import Fuel Prices Decline After Gaining 25.4% Over Previous 4 Months

Logistics and transportation of import export container cargo ship, cargo plane with working crane bridge in shipyard at sunrise, logistic import export and transport industry background. (Photo: ADobeStock)
Logistics and transportation of import export container cargo ship, cargo plane with working crane bridge in shipyard at sunrise, logistic import export and transport industry background. (Photo: ADobeStock)

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%.

IndicatorPriorPrior RevisedConsensus ForecastForecast RangeActual
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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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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