WASHINGTON — The U.S. September import-export price report continued to show no signs of inflation.
September import prices posted a 0.1% dip, their third monthly drop, leaving the over-the-year pace at a 10.7% decrease.
Non-oil imports posted a 0.2% slide, led lower by drops in other industrial supplies and foods. Non-oil imports stand 3.3% lower over the year, the largest such drop since a 4.1% drop in October 2009. This is the primary reason there is no imported inflation.
Capital goods imports posted a 0.1% slip for a 2.3% drop over the year. This matches the pace seen in August -- both are the largest year-over-year drops since December 2002.
Imports from China fell 0.2%, and from Japan were flat, and these are important trade partners. Imports from the U.K. posted a 0.2% gain but from the European Union were off 1.0%.
Export prices posted a 0.7% decline, and non-agricultural exports dropped 0.6%. Foods and industrial supplies both fell.
These results remain consistent with low inflation overall.
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