American import prices demonstrate the greatest sink for two years

American import prices demonstrate the greatest sink for two years

In June, American import prices came up with their most impressive tumble for more than two years. It’s due to the fact that prices for petroleum products headed south, while a strengthening greenback suppressed the costs of other products.

On Friday, the Labor Department uncovered that import prices inched down by 0.4% in June, which appears to be the largest slump since February 2016. May’s data was updated to reveal import prices soaring 0.9% instead of jumping 0.6% as posted earlier.

Market experts surveyed by Reuters had predicted import prices ascending 0.1% in June. For the twelve months through June, import prices rallied by 4.3% having gained 4.5% in May.

In June, prices for imported petroleum edged down by 0.8% having speeded up 7.4% in May. Without petroleum, in June import prices inched down by 0.3% having jumped 0.1% in May. Import prices without petroleum grew 1.4% for the twelve months through June.

Apparently, the slump in import prices without petroleum definitely shows the greenback’s strength.

The evergreen buck managed to ascend 1.6% versus its key rivals in June. So far this year the evergreen buck has soared 3.8% on trade-weighted basis that could potentially help to compensate some of the push to import prices from duties on steel, lumber, and aluminum.

As for import prices for nonfuel industrial supplies as well as materials, they tacked on by 0.3% in June in the face of higher prices for paper and metal, having soared 0.8% in May.

For a second straight month the cost of imported capital products dived 0.1%.

The goods imported from China didn’t change in their value in June having soared 0.1% in May.

Imported food prices headed south 2.6% in June, which is the biggest dip since February 2012, having soared 0.4% in May.

Similar

British budget gap inches down

In September, Britain's authorities faced a smaller budget deficit than anticipated, although the improvement won’t probably help a lot to have minister Philip Hammond financed as he’s working on his annual budget…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera