Import and Export Prices Flatten in May
NEW YORK ( TheStreet) -- May import and export prices both rose only 0.2%, as imports were affected by a spike in gold and metal prices and exports pushed by light fuel decreases.
The month-to-month numbers are down from April export prices, 0.9%, and import prices, 2.1%. The export prices reading was the smallest advance since July 2010.
Yearly changes in import and export prices are used to determine long-term market trends for inflation on internationally tradable goods. Export prices were up 9.0% at the same time last year, and import prices were up 12.5%
Written by Joe Deaux in New York.
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