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US Import, Export Prices Plummet In March As COVID Deflationary Drag Strikes

Courtesy of ZeroHedge View original post here.

In what is perhaps not totally surprising, the deflationary winds of a global lockdown washed ashore in the US with a collapse in both US import and export prices (though both were modestly better than expected).

  • Import Prices fell 2.3% MoM (better than the -3.2% exp) and year-over-year plunged 4.1% (again better than 5.0% drop expected)

  • Export Prices fell 1.9% MoM (better than the -2.3% exp) and year-over-year tumbled 3.6%.

Source: Bloomberg

These are the biggest deflationary impulses since June 2016.

China's deflationary export was not as significant as Canada and Asia Near-East…

Source: Bloomberg

More to come, we are sure.


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