KONTAN.CO.ID - WASHINGTON. U.S. import prices fell for a second straight month in November amid decreases in the costs of energy products and motor vehicles, suggesting that import deflation could help to lower domestic inflation next year. Import prices dropped 0.4% last month, the Labor Department's Bureau of Labor Statistics said on Thursday. Data for October was revised to show prices declining 0.6% instead of 0.8% as previously reported. Economists polled by Reuters had forecast import prices, which exclude tariffs, falling 0.8%. In the 12 months through November, import prices decreased 1.4% after dropping 1.8% in October. Annual import prices have now dropped for 10 consecutive months.
US Import Prices Post Second Straight Monthly Decline in November
KONTAN.CO.ID - WASHINGTON. U.S. import prices fell for a second straight month in November amid decreases in the costs of energy products and motor vehicles, suggesting that import deflation could help to lower domestic inflation next year. Import prices dropped 0.4% last month, the Labor Department's Bureau of Labor Statistics said on Thursday. Data for October was revised to show prices declining 0.6% instead of 0.8% as previously reported. Economists polled by Reuters had forecast import prices, which exclude tariffs, falling 0.8%. In the 12 months through November, import prices decreased 1.4% after dropping 1.8% in October. Annual import prices have now dropped for 10 consecutive months.