US Import Prices Fall More than Expected in October

U.S. import prices fell more than expected in October as the cost of petroleum and a range of goods declined, a sign that a strong dollar and soft global demand continued to exert downward pressure on imported inflation.
The Labor Department said on Tuesday import prices dropped 0.5 percent last month after a revised 0.6 percent decline in September. Import prices have now fallen in 14 of the last 16 months.

Economists had forecast import prices slipping 0.1 percent after a previously reported 0.1 percent fall in September.

In the 12 months through October, prices tumbled 10.5 percent. Dollar strength and a sharp decline in oil prices have weighed on inflation, which is persistently running below the Federal Reserve’s 2 percent target.

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