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US Import Prices Jump Most In 8 Years In June

Courtesy of ZeroHedge View original post here.

Import and Export prices were expected to further slow the deflationary impulse caused by global pandemic lockdowns in June and on a MoM basis both Imports (+1.4% vs +1.0% exp) and Exports (+1.4% vs +0.8% exp) beat expectations. This is the biggest jump in Import prices MoM since March 2012…

However, the deflationary impulse remains strong YoY (even after May downward revisions)…

Source: Bloomberg

Ex-Petroleum, import prices rose 0.3% MoM (better than the +0.1% expected).

The big question is, will China's massive credit impulse to "save" its economy lead to a huge spike in trade flow inflation?

Source: Bloomberg

Dallas Fed's Kaplan was undecided yesterday claiming that massive US over-capacity will control inflation (but also said he expects food prices to rise on supply shortfalls).

Trade accordingly.


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