Great news America – it’s been over 2 full years since the cost of imported goods rose year-over-year (dropping 2.2%in August as expected).
The month-over-month drop of 0.2% was bigger than expected and was the first drop since February as US airfares reportedly tumbled (especially to Europe).
China’s deflationary contagion hit fresh 6 year lows but prices from almost every region declined.
Import prices from Japan saw the biggest MoM increase – up 0.3% MoM – but by product US import prices fell the most in Fuels & Lubricants and Food & Beverage categories.
Charts: Bloomberg
via http://ift.tt/2cEkcFW Tyler Durden