US: Import prices decline 0.6% in August; export prices edge down 0.1%

Eren Sengezer FXStreet

"U.S. import prices declined 0.6 percent in August following a 0.1-percent decrease the previous month," the U.S. Bureau of Labor Statistics announced today.

Key takeaways from the press release

Falling prices for both fuel and nonfuel imports contributed to the August decline.
Nonfuel import prices edged down 0.1 percent in August, after decreasing 0.3 percent in each of the previous 2 months.
Prices for U.S. imports advanced 3.7 percent from August 2017 to August 2018 and have not recorded a 12-month decline since October 2016.
Prices for U.S. exports edged down 0.1 percent, after decreasing 0.5 percent in July.
The price index for overall exports advanced 3.6 percent for the year ended in August and has not recorded a 12-month decline since a 0.2-percent decrease in November 2016.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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