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Import prices fall again

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Import prices fall again

Import prices have fallen 11 of the last 13 months.

Import prices fell again in July, according to a report issued today by the Labor Department.

Prices fell 0.9% during the month, following a revised unchanged reading in June, led by the strong US dollar and declining oil prices.

Analysts had expected a decrease of 1.1%

Import prices have now fallen for 11 of the last 13 months, and since July 2014, prices have fallen by a full 10.4%.  During that period, the US dollar has increased against its major trading partners by 15.7%.

Export prices slipped 0.2% during the month, after a 0.3% decrease in June.  In the last twelve months, export prices have dropped 6.1%.

 

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