Thanks to the weak US$, rising commodity prices and growing wage inflation in China, April import prices rose 2.2% m/o/m and are now up 11.1% y/o/y vs expectations of 1.8% and 10.4% respectively. It’s not just food and energy too as ex that prices were up .5% m/o/m led by a 5% rise in the cost of imported industrial supplies. Import prices from China rose .4% after a .6% gain in March and is up 2.8% y/o/y as the days of importing deflation from China is over. This data highlights clearly the inflationary implications of a weak US$ when we have a trade deficit as large as ours. The weak US$ certainly helps the export side in terms of competitiveness and revenues but we import a lot more than we export at an ever growing cost.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.