Stronger dollar should continue to keep US import prices down in the near term
US imported inflation rose after seven consecutive declines, following a rebound in energy prices. Import prices increased 0.4% m/m (-9.4% y/y) in January, below our forecast (0.6% m/m) but above consensus (0.2% m/m) exp…
US imported inflation rose after seven consecutive declines, following a rebound in energy prices. Import prices increased 0.4% m/m (-9.4% y/y) in January, below our forecast (0.6% m/m) but above consensus (0.2% m/m) expectations.
Prices for petroleum and petroleum product imports rose 8.1% m/m, broadly in line with our expectation of a bounce back after the sharp decline during January and December.
Capital Economics notes in a report on Thursday:
The softness in import prices in recent months has been driven by lower energy prices, as well as dollar strength.
The rise in oil prices during February contributed to the stabilization in overall imported inflation, and we expect the drag from oil energy prices to fade.
However, a stronger dollar should continue to keep imported prices down in the near term.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
