Courtesy of Mish.
The Fed is struggling like mad to produce inflation, with little success on some fronts. Of course the Fed ignores asset bubbles in its measures.
Import/Export Prices
The Bloomberg Consensus range for export prices was 0.1%. The range for import prices was 0.4%.
Economists were wildly off the mark on both estimates. Both prices declined. Export prices declined more than any economist’s guess.
Here are some Import/Export charts from the BLS.
Import Prices M/M and Y/Y
Thanks to a strong dollar, import prices declined for ten consecutive months. Year-over-year, import prices are down nine consecutive months.
Export Prices M/M and Y/Y
…
