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The Atlanta Fed's macroblog provides commentary and analysis on economic topics including monetary policy, macroeconomic developments, inflation, labor economics, and financial issues.

Authors for macroblog are Dave Altig, John Robertson, and other Atlanta Fed economists and researchers.


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June 10, 2005


The Other Trade News

In the other trade-related news today, the BLS reported a sizable dip in import prices in the month of May. Export prices fell too. From FXStreet.com:

Led by a drop in crude oil and industrial materials prices, the prices of goods imported into the United States fell 1.3% in May, the first decline since December, the Labor Department said Friday.

Imported oil prices sank 6.5%, while prices of other imports fell 0.3%. It's the first decline in non-oil import prices since October

    Export prices also fell in May, dropping 0.1%. Excluding agricultural goods, export prices fell 0.4%.     Import prices are up 5.7% in the past 12 months, down from the 8.7% year-over-year gain in April.

If you were looking hard, there was a little more fuel for the put-the-pressure-on-China fire:

Prices of goods imported from the European Union fell for the first time since September 2003 amid a decline in the value of the European common currency, falling 0.3%. Prices of imports from Canada fell 1.5%, marking the first drop since December.

Prices of imports from Japan were unchanged. Prices from imports from China rose for the third consecutive month, climbing 0.1%.

But:

Even so, those prices were down 0.4% in year-on-year terms, the Labor Department said.

UPDATE: The Capital Spectator speculates on what it all means for the bond market.

June 10, 2005 in Data Releases | Permalink

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