U.S. Economy

     (CN) – U.S. import prices declined 5.0 percent over the 12 months ending in May 2016, driven by declines during the second half of 2015 and in the first 2 months of 2016. Over the same 12-month period, export prices fell 4.5 percent, the smallest over-the-year decrease since the index fell 3.0 percent for the year ended in December 2014.
     The Bureau of Labor Statistics said that from May 2015 to May 2016, imported fuel prices declined 28.8 percent, continuing a trend that began in August 2014. Petroleum prices declined 29.1 percent during those 12 months, and natural gas prices decreased 38.4 percent. The price index for nonfuel imports declined 1.7 percent over the year ending May 2016.
     Prices for agricultural exports fell 5.4 percent from May 2015 to May 2016. Lower prices for nuts, meat, and wheat were the primary contributors to the decline. The price index for nonagricultural exports decreased 4.4 percent over the year ending May 2016.

%d bloggers like this: