Deflation's Back? Core Import Prices Tumble In December

While the world worries about inflation, US import prices (ex petroleum) printed a shocking 0.2% decline MoM in December (a big drop from recent monthly gains and big miss to expectations).

This is the biggest monthly decline since June 2016...

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Year over year, import price gains rolled over...

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Headline import prices also missed expectations, rising just 0.1% MoM in December (the weakest gain since July).

China's deflation export was stable...

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