Courtesy of Mish.
The Bureau of Labor Statistics report on Import and Export Prices shows import prices fell 0.3 percent in November following increases of 0.4 percent and 0.1 percent the 2 previous months. The drop in November was primarily led by decreasing fuel prices.
U.S. export prices also declined in November, edging down 0.1 percent, after a 0.2-percent increase the previous month.
Year over year, import prices are down only 0.1%. Economists have bells and whistles in hand, ready to cheer the moment consumers have to spend more money to get less goods. According to economists, paying more to receive less is a good thing.
The chart below shows clear “progress“.
Import Prices
Export Prices
Easy to Predict
