FAST FIVE: Despite Tariff Tantrum, Import/Export Prices Tumble For 5th Month In A Row
Despite Tariff Tantrum, Import/Export Prices Tumble For 5th Month In A Row So much for the trade war-driven inflation that anti-Trump-ers have screamed about, both import and export prices in September extended their annual declines to a fifth straight month.
Source: Bloomberg The most notable aspects of the import/export shifts are in consumer goods and autos (where fearmongering screamed about tariffs' impacts): Consumer goods prices unchanged m/m after rising 0.1% in Aug.
Consumer goods export prices ex-autos 0.3% decline largest since Jan.
2017 As China exports the most deflation since July 2007.
But, given the lagged impact of China's credit impulse, is that about to change.