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IPFS News Link • Economy - Economics USA
Cross-Border Deflation: US Export Prices Collapse Most Since July 2009;
• MIKE SHEDLOCKExport Prices Collapse Most Since July 2009
Today's Import/Export report will have alarm bells ringing in the heads of various Fed members.
Month over month, export prices fell 1.4% with the Bloomberg Consensus opinion at -0.4%. The decline was outside the range of any estimate.
Economists' estimates ranged from -1% to +0.1%.
Significant declines sweep nearly all categories of the import & export price report pointing squarely to a deepening of cross-border deflationary pressures. Import prices fell 1.8 percent in August, slightly more than expected, while export prices fell 1.4 percent which is substantially more than expected.