Import/Export Price Collapse Slows As Petroleum Costs Soar

After import and export prices plummeted in April, analysts expected a modest rebound and were right with import prices up 1.0% MoM and export prices rising 0.5% MoM (both around expectations).

This rebound created a very modest “rebound” in YoY price changes (both still down 6.0%)…

Source: Bloomberg

The rebound was led by a surge in mining and petroleum import costs…

This, along with the rise in CPI and PPI confirms costs of living in America are rising for the average joe, despite the headline disinflatioanry prints.