Courtesy of ZeroHedge View original post here.
US import and export prices rose more than expected in May (+1.1% MoM and +2.2% MoM respectively). This pushed Export prices up by 17.4% YoY – the highest on record (since 1984) and import prices rose 11.3% YoY – the highest since 2011…
Source: Bloomberg
Under the hood, Import prices ex-food and fuel rose 6% y/y in May
- Import prices ex-petroleum rose 0.9% m/m after rising 0.7% in April
- Import prices ex-fuels rose 0.9% m/m after rising 0.7% in April
Industrial supplies prices rose 4.5% after rising 2.4% in April
Auto prices rose 0.1% m/m after rising 0.2% in April
And May airfares to the US rose 13.5% YoY
…you better hope this is transitory!
And China's Credit Impulse suggests it is…