By Tyler Durden at ZeroHedge
For the 18th month in a row, US Import prices fell YoY (down 6.1% vs expectations of a 6.5% drop). This is the longest deflationary streak since 1999. Under the hood we see the first first rise in prices (ex food, fuel) since May 2014. Fuel price dropped 3.9% – the 8th consecutive drop – and foreign food product prices dropped 2% – the most since Feb 2012. Perhaps most crucially, China’s forced deflationary wave continues to build with the index at its lowest since 2010.
Longest losing streak since 1999…
With China exporting deflation at the fastest pace since 2010…
The Labor Department’s accompanying cheat sheet for reporters repeated the phrase “The index has not recorded a monthly increase since…” ten times. The range of sustained declines ranged from March 2014 for non-petroleum imports, to September 2015 for natural gas
Source: China Exports Most Deflation to US Since 2010 – ZeroHedge
