U.S. overall imported inflation rises in December on energy and food prices
U.S. overall imported inflation came in at 0.3 percent sequentially and rose 0.5 percent year-on-year in December. Today’s report made a comeback. However, the year-on-year jump was mainly driven by the result of energy …
U.S. overall imported inflation came in at 0.3 percent sequentially and rose 0.5 percent year-on-year in December. Today’s report made a comeback. However, the year-on-year jump was mainly driven by the result of energy commodity prices; annual inflation continued to be negative for several other categories. Components such as capital or consumer goods continue to show very subdued price pressures and continue to be far from pushing import price pressures higher in a significant way, noted Barclays in a research report.
Core imported inflation continues to record weakness. Apart from petroleum, all other major import price components are falling on an annual basis – a sign that the U.S. continues to import deflation.
“In our view, the decline in prices of durable capital goods is likely related to the weakness in the global manufacturing cycle”, said Barclays in a research report.
On the consumer side, the inflation trend softened considerably at the beginning of last year, but appears to have stabilized at around -0.5 percent year-on-year in more recent months.
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…
