US import prices for May 0.0% versus -0.2% estimated

• Prior month import prices +0.1%
• Prior month export prices 0.1%
• Import prices MoM 0.0% versus -0.2% estimate
• import prices a year on year 0.2% vs 0.1% last month
• Export prices MoM -0.9% vs -0.2% estimate. The biggest negative since May 2023
• Export prices year on year +1.7%

The price of imports (and exports as well are not racing which is good for inflation.

Some details from the Commerce Department:

• Agricultural export prices rose 1.9% over the past 12 months, the largest annual gain since February 2023.

• Nonagricultural export prices also increased 1.9%, with no 12-month declines since September 2024.

• Import fuel prices fell 12.0%, the sharpest drop since October 2024.

  • Petroleum prices declined 13.3%.

  • Natural gas import prices surged 59.9%.

• Nonfuel import prices rose 1.2%, driven by gains in industrial supplies, autos, and capital goods.

This article was written by Greg Michalowski at www.forexlive.com.