US Import Prices Lower After Oil Drop and Strong USD

U.S. import prices in July posted their biggest decline in six months as the cost of petroleum products and other goods fell, suggesting inflation could remain tame for a while.

The Labor Department said on Thursday import prices dropped 0.9 percent last month, the largest fall since January, after being unchanged in June. Import prices have now declined in 11 of the last 13 months.

Economists had forecast import prices falling 1.1 percent after a previously reported 0.1 percent dip in June.

In the 12 months through July, prices dropped 10.4 percent.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza