Economy

US import prices April 2020

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Shipping containers are stacked on a ship docked at Yusen Terminals on Terminal Island at the Port of Los Angeles in Los Angeles, January 30, 2019.

Mike Blake | Reuters

U.S. import prices fell by the most in more than five years in April as the coronavirus crisis depressed demand for petroleum products, which could strengthen some economists’ predictions of a brief period of deflation.

The Labor Department said on Thursday import prices dropped 2.6% last month, the largest decline since January 2015, after a revised 2.4% decline in March.

Import prices, which exclude tariffs, were previously reported to have decreased 2.3% in March.

Economists polled by Reuters had seen import prices plunging…



Source cnbc.com

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