The Magazine for Asian Investors
The U.S. import price index fell more than expected in July
The U.S. Bureau of Labor Statistics reported yesterday that the import price index fell 1.4% in July from the previous month, following a 0.3% increase in June.
Year on year, the import price index rose 8.8%, following a 10.7% increase in June.
The slowdown in the import price index was caused by a strong dollar and a slump in food and energy prices.
The core import price index (excluding food and energy) fell by 0.5% after declining by 0.6% in June.
Year on year, the core import price index increased by 3.8% in July.
The U.S. Labor Department also reported that the export price index fell 3.3% in July from the previous month, after rising 0.7% in June.
Year on year, the export price index rose by 13.1%, following an 18.1% increase in June.
