US import prices -0.6% vs. -0.2% expected. Export prices -0.1% vs. 0.0% expected

Below expectations

The US import and export prices all missed on the downside.

• Import prices fell -0.6% vs -0.2% exp. The prior month was also lower at -0.1% vs 0.0%. The decline this month was the largest since Jan 2016
• Export prices fell -0.1% vs 0.0% exp. The prior month showed a decline of -0.5%
• Import prices ex Petroleum fell -0.2% which was as expected. The prior month fell -0.2% vs -0.1% previous reported
• Import prices YoY was lower at 3.7% vs 4.1% (prior 4.9% vs 4.8 previously reported)
• Export prices YoY rose 3.6% vs 4.3% last
• industrial supply prices fell -2.2%
• capital goods prices fell by -0.1%
• auto prices unchanged
• consumer goods prices unchanged

The figures don't reflect the impact of the tariffs. Price of imports from Canada fell -1.5%. That was the largest fall since January 2016. The EU, China, and Mexico each showed -0.1% drops.