US DATA: April import prices -0.5% (first drop since Oct) vs.
+1.5% in March; ex-fuel +0.1%. Non-fuel import prices +0.1% vs. +0.5%
the previous month. BLS Assistant Commissioner Alterman said ‘seems to
be some damping down of the high volatility categories, with less
excitement associated with petroleum.’ The 12-month increase now just
0.5% after hitting a double-digit peak in July 2007 and +11.9% in the
Apr 2010-11 year. April export prices +0.4% and there not only oil
volatility but grain prices dampened. Over a year export prices up only
0.7%, when the previous year they were up +11.9%. Non-oil industrial
supplies +0.3% in April vs +1.6% in March. Imports from China -0.3% in
April, first decrease since June 2010. Imports from Canada -1.0%; EU
-0.1%; Mexico -0.5%; Japan -0.4% in April.