August 20, 2024
US import prices rose by 0.1% in July over the month and by 1.6% over the year. It is the third consecutive month of low reading in the indicator confirming the recent trend of easing in price pressures.
Over the year the indicator has passed negative readings only in March of 2024. Before that it has been demonstrating deflation for more than a year (see chart).
Data adds to positive news about inflation easing recently and will help the Fed to start cutting rates in September.
⭐️Summary:
Import prices barely rose in July adding to last positive news of easing inflation which will help Fed to start policy easing in September.