US August import price index +0.9% vs +0.5% expected
US August import and export price data
- Prior import price index +0.7% m/m
- Import prices -1.4% y/y vs -2.1% expected (prior -3.3%)
- Export price index % m/m vs +0.4% expected
- Export price index -2.8% y/y vs -3.2% expected (prior -4.4%)
These numbers are higher than anticipated. It's early days in the recovery but it's been strong and inflation is running hotter than forecast. This is only a small piece of the puzzle but all the inflation numbers need to be watched closely.