US import prices rally 0.6% in May

Economy 6/14/2018, 2:31 PM
US import prices rally 0.6% in May

The index used by the Bureau of Labor Statistics to measure movements in prices of goods from overseas and transportation services in the United States added 0.6% last month, unchanged from one month before, but the previous reading was doubled from 0.3%. Fuel prices jumped 4.9%, the most since November. The remaining, core indicator rose a flat 0.2%. Import prices advanced 4.3% year over year, one whole percentage point faster than in April and the most since February 2017.

The export valuations index also grew by a strong and unchanged 0.6% last month alone, as the agricultural segment more than reversed the preceding decline by jumping 1.6%. Excluding the sector, prices of goods shipped abroad rallied 0.5%. The overall measure rallied 4.9% in the twelve-month period, a rate unseen since October 2011, accelerating from 3.8% percentage points, registered for April.

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