US Import Prices Tumble For 20th Month In A Row As China Exports Most Deflation Since 2009

For the 20th month in a row, US Import Prices dropped YoY (down a worse than expected 6.2% YoY) with China exporting deflation at the fastest pace since 2009...

 

The overall deflationary streak is the longest since 1999.

 

Petroleum prices rose 6.5% MoM contriobuting the most to the 0.2% MoM gain overall in import prices (notably less than the +1.0% expected).